Asters advises International Finance Corporation on over EUR 30 million financing to IMMER Group
Asters Law Firm acted as a Ukrainian law counsel to International Finance Corporation (IFC), a member of the World Bank Group, in connection with over EUR 30 million loan to IMMER Group, a leading Eastern European producer of flexible packaging.
IFC’s financing package, which includes 15 million euro in debt mobilized from other lenders, is designed to support growth of IMMER Ukrplastic, Ukraine’s largest manufacturer of flexible packaging materials whose production facilities are based in Kyiv. The project aims to strengthen the competitiveness of local industry, support job creation, and boost the growth of a competitive export-oriented company.
Asters’ banking and finance team advising on the project consisted of Partner Iryna Pokanay, Counsel Gabriel Aslanian and Associate Inna Bondarenko.
IFC, a member of the World Bank Group, is the largest global development institution focused on the private sector in emerging markets. Working with more than 2,000 businesses worldwide, we use our capital, expertise, and influence to create markets and opportunities in the toughest areas of the world. In FY17, we delivered a record $19.3 billion in long-term financing for developing countries, leveraging the power of the private sector to help end poverty and boost shared prosperity.
IMMER GROUP is one of the world’s largest manufacturers of flexible packaging materials, films and labels, which incorporates two production facilities: IMMER Ukrplastic and IMMER Digital, and IMMER Design Studio. IMMER Group employs a wide range of latest technologies. The history of the IMMER Group began in 1927. The Group is in the TOP-15 list of the European manufacturers. IMMER Group is a member of the associations: FPA and the consortium CEFLEX, FPE, EAFA, ERA, European Bioplastic. The Group is an active participant of the UN Global Compact, the UN SAVE FOOD Initiative, the Responsible Care initiative.
Banking and finance are the areas of Asters’ core expertise. The Firm and its partners are noted as the best practitioners in Ukraine in this field by international peer review-based ratings such as IFLR1000, Legal 500, Chambers Global, Chambers Europe, etc. Asters’ clients in the banking industry include international and local banks and financial institutions, trading and finance companies, as well as lenders, issuers, and borrowers in diverse banking and finance transactions.