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14 August 2009

Asters Advises ING Bank N.V. on Pre-Export Financing to a Ukrainian Agricultural Company

Asters has acted as a Ukrainian law counsel to ING Bank N.V. in connection with a USD 20 million pre-export finance facility to Grain Trading Company (GTC), part of the Cyprus-based Allseeds Group. Allseeds Group is one of the largest sunflower and rapeseed oil producers and exporters in Ukraine. The facility will be used for the purchase of rapeseeds by GTC on the Ukrainian market and subsequent processing of the seeds into rapeseed oil and cake for the export.

Asters’ banking, finance law and securities team advising on the loan included a partner Iryna Pokanay and an associate Yulia Spolitak.

Commenting on the transaction, Iryna Pokanay noted: "The ING pre-export financing should help GTC finance its production needs and keep up with export demand for the agricultural products. This is important in view of shortage of financing on the local market. We were pleased to advise ING in this transaction together with Dewey & LeBoeuf as an English law counsel."

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