Restructuring and insolvency

Interpipe debt restructuring (closed 2019)

The consensual restructuring of the entire debt portfolio of Interpipe (a major Ukrainian producer of steel). Over $1 billion of financial debt across multiple facilities was reduced and restructured (into a combination of debt and equity like instruments).

Interpipe debt restructuring (closed 2011)

This initial restructuring made the entire debt portfolio (including the restructuring of a project financing in an amount in excess of US$210 million guaranteed by SACE) subject to override terms and introduced a common security package.

Swedish debt restructuring

Acting for a supplier of a crude oil to a Swedish manufacturer of crude oil products. Our client agreed to become a lender alongside the financial institutions in a court sanctioned composition process. Our client’s debt was, as a result, restructured into a combination of financial indebtedness and a warrant like instrument.

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Project finance

Russian bank

$489 million project financing of the construction of petrochemical facilities in Sumqayit, Azerbaijan.

Interpipe

$344 million export credit-backed project financing provided by a syndicate led by Citibank and Barclays, in respect of the construction of a new steel plant in Ukraine.

EBRD

Acting for EBRD on its €24.5million project financing of a 30MWp solar plant in the Kamianka region of Ukraine for Scatec Solar.

Projects and infrastructure

IFC and EBRD

Joint financing of the development of a international airports in Tbilisi and Batumi in Georgia.

KFW and Kuwaiti banks

Acting for lenders in respect of the financing of a wastewater treatment PPP project in Kuwait.

IFC, European Investment Bank and FMO

Project financing of a soda ash plant in Kenya.

Trade finance

SUEK

Numerous pre-export financings for this Russian coal producer (including $1.5 billion in 2018 and $1.2 billion in 2019). 

Cheniere LNG

Various trade finance facilities with major banks.

South American Mining Company

$1 billion pre-export financing from a Chinese bank.

Real estate finance

Russian bank

Financing of the acquisition of a luxury hotel in Moscow.

Major property investment fund

Structured real estate financing of the construction of a premium outlet village near a major European city by a joint venture.

Major property investment fund

US$205 million loan from a syndicate of lenders led by Unicredit in respect of a real estate investment in a major European city.

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Oil and gas

EBRD

Project financings of the investments of SOCAR and Lukoil, respectively, in the Shah Deniz gas field, off the coast of Azerbaijan.

EBRD

Project financings of the investments of SOCAR and Lukoil in the South Caucasus gas pipeline.

Russian bank

$489 million project financing of the construction of a petrochemical facilities in Sumqayit, Azerbaijan.

Swedish debt restructuring

Acting for a supplier of a crude oil to a Swedish manufacturer of crude oil products. Our client agreed to become a lender alongside the financial institutions in a court sanctioned composition process. Our client’s debt was, as a result, restructured into a combination of financial indebtedness and a warrant like instrument.

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Energy and natural resources

EBRD

Project financings of the investments of SOCAR and Lukoil, respectively, in the Shah Deniz gas field, off the coast of Azerbaijan.

SUEK

Numerous pre-export financings for this Russian coal producer (including $1.5 billion in 2018 and $1.2 billion in 2019). 

Russian bank

$489 million project financing of the construction of a petrochemical facilities in Sumqayit, Azerbaijan.

More: Energy and natural resources

Mining and minerals

Interpipe debt restructuring

US$1 billion restructuring of debt portfolio (2011). Restructuring and consensual reduction of same portfolio (closed, 2019).

Unicredit and EBRD

Financing of the expansion of the Chelopech gold and copper mine in Bulgaria.

SUEK

Numerous pre-export financings for this Russian coal producer (including $1.5 billion in 2018 and $1.2 billion in 2019). 

More: Mining and minerals

Power and renewables

Saudi Electric Company

Advising on the 1,360MW Rabigh Independent Power Project.

EBRD

Restructuring of its $200 million project financing of a power plant in Slovenia.

EBRD

Acting for EBRD on its €24.5 million project financing of a 30MWp solar plant in the Kamianka region of Ukraine for Scatec Solar.