Banking and finance are our core areas of expertise. Nearly every year the firm and its partners (Armen Khachaturyan, Iryna Pokanay and Roman Stepanenko) are mentioned by prominent Ukrainian and international peer review-based ratings such as IFLR1000, The Legal 500 and Chambers Europe, as being the very best in Ukraine in this field.

Among our clients are the EBRD, IFC, Barclays Capital, Credit Suisse, Deutsche Bank, Dresdner Kleinwort Wasserstein, HSBC, ING Bank, JP Morgan Chase, Bank of America Merrill Lynch, Morgan Stanley, Societe Generale, Standard Bank, Swedbank, UBS Investment Bank, State Savings Bank of Ukraine (Oschadbank), PrivatBank, Ukreximbank, Ukrsibbank, and Ukrsotsbank.

In addition to our expertise in these general matters, we are well known for our innovative solutions to novel and complex legal problems: from securitization up to cash-pooling arrangements. We provide a full range of legal services in banking and finance.

Representative experience:

We have advised leading banks and financial institutions on major projects in Ukraine, including the following:

  • The European Bank for Reconstruction and Development (EBRD) on a number of major financing projects for a total value exceeding 1 billion USD, including 140 million USD and 100 million USD subordinated loan facilities to PJSC UkrSibbank, the BNP Paribas subsidiary in Ukraine, and a capital increase for UkrSibbank of 3.29 billion UAH.

  • International Finance Corporate (IFC), part of the World Bank group, in a number of projects with a total value exceeding 1 billion USD, including a loan of up to 100 million USD to Nibulon, one of the largest Ukrainian grain and oilseeds originators and exporters.

  • EBRD, IFC, and the Black Sea Trade and Development Bank in connection with 190 million USD and 180 million USD financing to the major Ukrainian petroleum distributor Concern Galnaftogaz for the modernization and expansion of its petrol-station network;

  • China Development Bank (CDB) in connection with a number of agreements on its long-term strategic partnership with Ukrtelecom (a leading Ukrainian national telecommunications operator) and Huawei Technologies (one of the largest Chinese networking and telecommunications equipment and service companies). At the first stage of the long-term partnership, Ukrtelecom expects to receive a credit from the CDB amounting to 50 million USD;

  • First Ukrainian International Bank (FUIB) in connection with its merger with Dongorbank, including consulting on the banks reorganization issues, drafting necessary documents, and the coordination of the merger process;

  • Aval Bank in the 1.028 billion USD sale of the controlling stake in the bank to Raiffeisen International;

  • Swedbank, a leading Nordic banking group, in the 735 million USD acquisition of TAS-Kommerzbank, the creation of the first bank holding group, and the merger of its Ukrainian bank subsidiaries;

  • Citigroup and Merrill Lynch in regards to a 368 million USD secured loan facility provided to a group of companies, including the software development arm of Flextronics International;

  • UniCredito Italiano on regulatory issues related to banking, the stock market, and general corporate law. Further, in helping Unicredito obtain approval from the central bank of Ukraine for their merger with Bayerische Hypo- und Vereinsbank AG (HVB Group), a leading German bank;

  • Standard Bank and BNP Paribas as lead managers in connection with a 100 million USD Eurobond offering by Bank Pivdennyi;

  • Citigroup and Standard Bank as lead managers in connection with a 100 million USD Eurobond offering by Forum Bank;

  • Dresdner Kleinwort Wasserstein, JP Morgan Chase, and UBS as lead managers in connection with the Kyiv City 150 million USD Eurobond issue, the first municipal Eurobond offering in Ukraine;

  • Ukreximbank in connection with a 150 million USD Eurobond issue.

The National Bank of Ukraine has eased foreign currency restrictions for businesses
Currency control restrictions in 2024 in Ukraine
Asters advises IFC on up to EUR 35 million financing to the City of Zaporizhzhia
Asters advised Smart Holding on the closed sale of Unex Bank
Asters advises International Finance Corporation on EUR 30 million loan to Ukrgasbank convertible into its shares
Asters advises Smart Holding on the sale of Unex Bank
Asters advises BSTDB on EUR 10 million loan to Novopecherska School
Asters advises EBRD on providing a loan to Enzym
Asters advises EBRD on providing a loan to Kormotech
Asters advises EBRD on providing a loan to Grain Alliance
Asters advises EBRD on up to EUR 15 million financing to Farmak
Changes in foreign exchange regulation in Ukraine
New rules of foreign exchange regulation in Ukraine
National Bank of Ukraine updated the rules of granting currency exchange licenses
Top novelties in Banking law in Ukraine in 2018
The National Bank changes the rules for buying a bank
Asters advises IFC on restructuring deal with Mriya
Quinn Emanuel Urquhart & Sullivan LLP and Asters score for Oschadbank in a USD 1.3 billion investment claim
European Union Strengthens Cash Movement Controls
The National Bank of Ukraine has shed some light on the future of currency regulation
Currency control reform in review
Asters advises EBRD on USD 15 million financing to Modern-Expo Group
Asters advises EBRD on up to USD 3.86 million financing to Energoresurs-invest
Changes in defining the courts' jurisdiction limits: a step towards more efficient protection of creditors' rights
New Law on Lending Resumption will improve accessibility of banking products for business entities and individuals in Ukraine
Regression, subrogation or ... nothing?
New Law on Currency and Currency Operations: New Opportunities for Private Clients
The new law on currency and currency operations enacted
Asters advises International Finance Corporation on USD 17 million financing to Agrofusion
The Central Bank of Cyprus intends to put "shell companies" under scrutiny
Asters advises IFC on USD 30 million financing to Astarta
Asters advises International Finance Corporation on USD 12.5 million financing to Nyva
EU Strengthens Rules for Verifying Information on Funds
Ukraine's debt restructuring reforms create fresh opportunities and challenges
Debt recovery trends in Ukraine
Asters advises BSTDB on USD 20 million loan to Concern Galnaftogaz
OTP Bank, 1991 Open Data Incubator, National Bank of Ukraine and Asters crown the winners of the Open Banking Lab program
Asters advises General Electric on USD 1 billion deal with Ukrzaliznytsia
The Legal 500 Honors Armen Khachaturyan in Inaugural Hall of Fame
Digital technologies in banking
Asters advises International Finance Corporation on over EUR 30 million financing to IMMER Group
Asters advises on the first banking merger under the new bank reorganization law
Asters advises BSTDB on USD 5 million loan to Novotech Terminal
Asters advises EBRD on up to USD 25 million loan to Novus
Asters becomes partner of the Open Banking Lab fintech startup incubation program
BPU and Asters advise ViDi Group companies on the first ever financial restructuring involving a state bank in Ukraine
NBU has cancelled the registration requirement for the loan agreements between the local borrowers and international financial institutions
NBU has permitted to purchase foreign currency for payments under the suretyships covering the obligations of the local debtors
Asters advises International Finance Corporation on up to USD 100 million financing to Nibulon
NBU permitted creditors to apply for registration of assignment under cross-border loan agreements
National Bank of Ukraine Alleviates Currency Control Rules
Asters advises on the first ever issuance of multimillion customs guarantee in Ukraine
Asters advises EBRD on USD 3 million loan to Ecosoft
The long-awaited financial restructuring law has come into force
Asters advises a creditor on debt settlement with one of the largest Ukrainian IT-companies
Asters acts as a local Ukrainian counsel in the matter related to protection of JSC Oschadbank's investments in Crimea
Asters Advises International Finance Corporation on USD 25 Million Financing to Astarta
Asters Advises International Finance Corporation on USD 15 Million Financing to Nadezhda
Asters acts as local transaction counsel to International Finance Corporation on USD 10 million financing to Integrated Agrosystems
NBU reiterates its currency restrictions
Asters Advises EBRD on the capital increase of UkrSibbank by UAH 3.29 billion
The shaky stabilization
Asters Advises EBRD on its USD 5 million Loan to V.V. Kischenzi LTD
Asters Advises China Development Bank on the Long-Term Strategic Partnership with Ukrtelecom
NBU extends the term of foreign lender loans prepayment prohibition
Shedding light on bank ownership
NBU introduces incentives to support prolongation of LPN and subordinated debt maturity
Banks may refuse to return deposits prior to their maturity
NBU extends the term of foreign lender loans prepayment prohibition
NBU to impose sanctions on the banks lacking transparent ownership structure
NBU obliges banks to provide monthly reports on their affiliated persons
Moratorium on Payment of Dividends by the Banks
NBU Extends the Term of Foreign Lender Loans Prepayment Prohibition
Ukraine's National Bank Prohibits Currency Purchase for the Loans Early Repayment
Certain Controversial Issues Regarding Transfer of Rights and Obligations from Banks Undergoing Reorganization to Successor Banks
The National Bank of Ukraine Introduces Changes to Cash Funds Transfer Procedure over the Customs Border of Ukraine
NBU Introduces Changes to Cross-Border Loan Registration Procedure
NBU Main Department in the City of Kyiv and Kyiv Region Specifies Requirements to Loan Agreements with Foreign Lenders Submitted for Registration
Rules for Provision of Consumer Loans in Ukraine Changed
National Bank reintroduces reserve requirements for short-term funds attracted by Ukrainian banks from abroad
Ukraine's National Bank Requires Individual Licenses for Payments by Ukrainian Sureties to Foreign Creditors
Parliament changes the procedure of acquisition of a substantial interest in Ukrainian banks
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