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Asters advises International Finance Corporation on USD 17 million financing to Agrofusion

Asters acted as a Ukrainian law counsel to International Finance Corporation (IFC), a member of the World Bank Group, in connection with USD 17 million loan to Agrofusion, the largest tomato paste and industrial tomato producer in Ukraine with operational assets based primarily in Mykolaiv and Kherson regions. 

IFC is providing a long-term corporate loan to finance the Agrofusion’s 2018-2019 expansion and debt refinancing program. This is IFC’s third investment in Agrofusion made with the assistance of Asters. The project implementation will allow the company to expand its product portfolio and increase export volumes. 

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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IFC – a sister organization of the World Bank and member of the World Bank Group – is the largest global development institution focused on the private sector in emerging markets. IFC works with more than 2,000 businesses worldwide, using its capital, expertise, and influence to create markets and opportunities in the toughest areas of the world. In FY17, IFC 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. 

Established in 2007, Agrofusion is the largest vertically integrated tomato paste producer in Ukraine. The Company works with the global FMCG companies, exports 70% of its production to 35 countries. The Company’s operational assets include: three tomato paste plants with total processing capacity of approximately 750,000 metric tons of tomatoes per season; two seedling green-houses; and approximately 25,000 hectares of irrigated leased land in Mykolayiv and Kherson regions of Ukraine.

Asters is a full-service independent national law firm that has maintained a strong presence in Ukraine since 1995. Asters has extensive industry-specific experience and plays a leading role in advising clients in various market sectors. The Firm has consistently remained at the top of the Ukrainian legal market throughout its history. Asters is a winner of Ukraine Law Firm of the Year 2018 award by Who’s Who Legal and a two-time winner of the Law Firm of the Year: Ukraine and the CIS award (The Lawyer European Awards 2014 and 2015). It is also acknowledged as the Law Firm of the Decade by Ukraine's Legal Awards 2016. Asters holds top positions in the most authoritative international and Ukrainian market reviews: The Legal 500, Chambers Global and Chambers Europe, IFLR 1000, Who's Who Legal, Best Lawyers, Expert Guides, and Top 50 Law Firms Annual National Ranking.