Asters Law Firm acted as local transaction counsel to International Finance Corporation (IFC), a member of the World Bank Group, in connection with USD 10 million financing to Integrated Agrosystems, a member of Agrofusion Group, the largest tomato paste and industrial tomato producer in Ukraine.
IFC will provide corporate medium-term working capital financing in the form of an up to USD 10 million Loan. This project will support Integrated Agrosystems by strengthening its capital base through refinancing existing short-term debt and financing incremental permanent working capital.
Asters' banking and finance team advising on the project consisted of partner Iryna Pokanay, counsel Gabriel Aslanian and associate Inna Bondarenko.
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International Finance Corporation (IFC) is an international financial institution that offers investment, advisory, and asset management services to encourage private sector development in developing countries. IFC is a member of the World Bank Group and is headquartered in Washington, D.C.
Established in 2007, Agrofusion Group is the largest vertically integrated tomato paste producer in Ukraine, marketing its products mainly to large FMCG companies in Ukraine, EU and CIS countries. The company’s operational assets include: two tomato paste plants with total processing capacity of approximately 480,000 metric tons of tomatoes per season; two seedling green-houses; and 20,496 hectares of irrigated leased land in Mykolayiv and Kherson regions as well as modern farming equipment.
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 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.