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Avellum and Wolf Theiss Advise on Restructuring and Refinancing of Ukrainian Brick Manufacturer Debt

Avellum and Wolf Theiss Advise on Restructuring and Refinancing of Ukrainian Brick Manufacturer Debt

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Avellum acted as Ukrainian legal counsel to Slobozhanska Budivelna Keramika in connection with the restructuring and refinancing of SBK’s debt, valued at approximately EUR 20 million. Wolf Theiss advised the EBRD, one of the lenders, on the matter.

Atlas Advisors, an independent investment banking firm, acted as the exclusive financial advisor to the SBK’s shareholders in connection with the restructuring of the credit portfolio, attraction of financing for the refinancing, and buy-out of SBK’s shares.

Although not confirmed by Avellum and Wolf Theiss, published reports state that the transaction included the restructuring and refinancing of SBC's debt to the EBRD, BNP Paribas, and UkrSibbank, as well as attracting a new loan to refinance existing debt provided by Tascombank. Following the restructuring's completion, the EBRD, BNP Paribas, and UkrSibbank withdrew as shareholders.

SBC is one of the largest producers of facing bricks and porous ceramic blocks in Ukraine. The company was founded in 1997 with the support of America's Western NIS Enterprise Fund. Currently, the majority shareholder of SBC is Austria's MARA Beteiligungsverwaltungs GmbH.

The Avellum team was led by Partner Yuriy Nechayev, with support from Associates Tetiana Mykhailenko, Dmytro Tkachuk, Oleksandr Kulykovskyi, and Anna Mykhalova.

The Wolf Theiss team advising the EBRD included Vienna-based Partner Marcell Nemeth (on English law), and Kyiv-based Senior Associate Oksana Volynets and Associate Mykhailo Razuvaiev.

Ukraine Knowledge Partner

AVELLUM is a leading Ukrainian full service law firm with a key focus on Finance, Corporate, Dispute Resolution, Tax, and Antitrust.

Our aim is to be the firm of choice for large businesses and financial institutions in respect of their most important and challenging transactions.

We build lasting relationships with our clients and make them feel secure in new uncertain economic and legal realities.

We incorporate the most advanced Western legal techniques and practices into our work. By adding our first-hand knowledge, broad industry experience, and unparalleled level of service we deliver the best results to our clients in their business endeavours. Our partners are taking an active role in every transaction and ensure smooth teamwork.

AVELLUM is recognised as one of the leading law firms in Ukraine by various international and Ukrainian legal editions (Chambers, The Legal500, IFLR1000, The Ukrainian Law Firms, and others).

Firm's website: www.avellum.com

 

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