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CMS advises KEXIM on refinancing for Ukrainian grain port terminal

12/ 08/ 2020

A multi-office CMS Cameron McKenna Nabarro Olswang team has advised the Export-Import Bank of Korea (KEXIM), the export credit agency of South Korea, on a secured US$36 million financing to Grain Terminal Holdings, a Singapore-based joint venture between Posco International (Korea’s largest trading company) and the Orexim Group (a leading agri transshipment and exporting company in Ukraine), that controls a Ukrainian grain terminal (MMW) based in Mykolaiv, Ukraine. The security package includes a mortgage over the Ukraine-based port terminal and security over shares in various companies within the joint venture group.

MMW used the on-lent proceeds to refinance an earlier loan from The Black Sea Trade & Development Bank (BSTDB) used to modernise and expand MMW increasing its annual grain storage capacity to 2.5 million tons.

Elitsa Ivanova, Partner and Head of Finance at CMS Sofia, comments: “We are pleased to have successfully advised KEXIM on this financing deal. This deal is one of the few high-profile corporate financings that we have seen in Ukraine this year, and even more so in these current challenging times. Not only does our work demonstrate CMS’s cross-border expertise, but it also highlights our capabilities in the agriculture sector in the region.”

This transaction demonstrates CMS’s capabilities to assist clients around the globe, coordinating across time zones. The CMS team (that was led by Elitsa Ivanova) included the following lawyers from three offices: associate Katerina Hristova (Sofia); partner Ihor Olekhov, counsel Kateryna Chechulina, senior associate Orest Matviychuk and associates Ivan Pshyk and Iryna Kravchenko (Kyiv); partner Toby Grainger, senior associate Sam Ng and associate Eric Lai (Singapore).

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For further information, please contact:

Darina Gordienko, Senior Business Development Executive

E: darina.gordienko@cms-cmno.com

T: +38 044 391 3377         

NOTES TO EDITORS

About CMS

Founded in 1999, CMS is an integrated, multi-jurisdictional organisation of law firms that offers full-service legal and tax advice. With more than 70 offices in over 40 countries across the world and more than 4,800 lawyers, CMS has long-standing expertise both in advising in its local jurisdictions and across borders. From major multinationals and mid-caps to enterprising start-ups, CMS provides the technical rigour, strategic excellence and long-term partnership to keep each client ahead in its chosen markets.

The CMS member firms provide a wide range of expertise across 19 practice areas and sectors, including Corporate/M&A, Energy & Climate Change, Funds, Life Sciences & Healthcare, TMC, Tax, Banking & Finance, Commercial, Competition & EU, Dispute Resolution, Employment & Pensions, Intellectual Property and Real Estate & Construction.

For more information, please visit cms.law

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