fbpx

Avail yourself of the opportunities while we will take care of the risks

The Banking & Finance Practice of Marchenko Partners covers the whole range of financial services and transactions, starting from plain vanilla credit operations up to complex debt restructurings and pioneering products involving blockchain and AI.

We have considerable experience in trade finance, where we act for major banks from the USA, the UK, the Netherlands and other jurisdictions.  We also often serve as a bridge between the conventional banking sector and avant-garde fintech companies.

Our lawyers are experts in financing, regulatory, tax, corporate and contractual matters, which enables us to provide the Clients with comprehensive advice covering all key aspects of the relevant product or transaction.

Responsible Partner

Partner, Transactions

Representative Cases
  • We represented the Export-Import Bank of the United States (acting as guarantor) and US lenders cooperating with it (Citibank, PEFCO and Atrafin) in connection with a series of export credit loans extended to Ukrainian corporate borrowers, including Ferrexpo Poltava Mining, Ferrexpo Yeristovo Mining, Nibulon, Rise and Sharivske. The total amount of the loans is about US$200 million.  The borrowers used the export credits to purchase the US-manufactured goods such as John Deere agricultural machinery, Caterpillar mining trucks, GSI grain bins, and Vertimill ore grinding mills.
  • We acted for Amsterdam Trade Bank on over 20 trade finance transactions where ATB provided loan facilities to state and privately held borrowers for the total amount of approximately US$700 million. The loans facilitated international trade operations in agricultural, power, chemical, metals, mining, retail, oil and gas, and machine building industries by way of increasing the efficiency of the supply chains.
  • We represented EnergoGroup in connection with the restructuring of approximately US$1 billion debt under the PXF facility granted by a syndicate of international banks including ING Bank, UniCredit Bank, VTB Bank (France), Raiffeisen Bank International and others. The transaction involved about 20 parties, 10 jurisdictions, and a voluminous security package comprised of mortgages, pledges, suretyships, guarantees and temporary assignments.
  • We act for Western NIS Enterprise Fund (a $150 million regional fund that was funded by the US government via the USAID) in connection with structuring, launching, and continuous operation of the Impact Investment Program. The program allows social enterprises (businesses that resolve certain social and environmental issues) to get access to low-interest loans denominated in local currency.  Over the last 5 years, we helped WNISEF fund above 30 loans granted to the social enterprises from all over Ukraine.
Notable Clients

Amsterdam Trade Bank, Citibank, East-West United Bank, EnergoGroup, Export-Import Bank of the United States, Gemcorp Commodities Trading, Holcim Group, Klimasan, Western NIS Enterprise Fund

                   
Subpractices
  • When it comes to credit financing, our focus is on cross-border transactions (between Ukrainian borrowers and foreign lenders) where we mostly represent the lenders.  Our services include as follows:

— a limited scope due diligence of the borrowers and security providers,

— review of draft loan agreements from the Ukrainian law perspective,

— drafting and negotiating security documents (e.g., mortgages, pledges, suretyships and guarantees),

— verification of corporate authorizations of the borrowers and security providers,

— coordination of documents execution and security registration,

— assisting with mandatory procedure for notifying the NBU of the cross-border loan agreements involving the Ukrainian borrowers,

— monitoring the satisfaction of conditions precedent, and

— issuing Ukrainian law opinions.

  • We provide comprehensive support of financing transactions (covering regulatory, financing, tax, contractual and corporate matters) with a particular emphasis on compliance with Ukrainian currency controls. Substantially relaxed in 2019, FX regulations remain quite restrictive in Ukraine and require close attention during structuring and documenting the transaction.  This concerns, for instance, a regulatory ceiling on the cumulative amount of interest, fees and other payments (other than principal) that the Ukrainian borrowers are allowed to pay to the foreign lenders.
  • We understand and know the classical structures of financing deals but, at the same time, appreciate that each transaction is unique and may require a great deal of customization and inventive solutions — and we are ready to deliver these.
  • For contractual restructuring of financial debt, we represent lenders, borrowers and security providers. Our experience of working on the lenders’ side includes acting both for individual lenders and for creditors’ committees comprising tens of banks and financial institutions from various jurisdictions.
  • We help our Clients hammer out and implement the most suitable restructuring solutions, including standstill arrangements, debt for equity swaps, cross-collateralization, refinancings, recapitalizations, loan consolidations, etc. We assist with the development of restructuring strategies, negotiations between the counterparties, and management of regulatory hurdles.
  • Given that the financial restructuring often runs the hazard of turning into a court dispute or bankruptcy of the borrower and security providers, we take account of, and advise on, these risks as well. If the contractual restructuring eventually fails, our Dispute Resolution Practice is ready to guide the Clients through litigation/arbitration and assist in insolvency proceedings.
  • We strongly advocate for innovations in the financial sector as its driving force that evolves the industry and spurs the financial inclusion. FinTech, RegTech, blockchain and AI-based technologies, neobanks, alternative and embedded finance, RPA, and smart contracts open the new era of banking and financial services.  We help our Clients excel in this highly competitive environment by offering our legal expertise and knowledge of both conventional and innovative segments of the financial industry.
  • For innovative financial solutions, we set up corporate structures fit for the Clients’ business; prepare internal policies and regulations; draft contracts with business partners and customers; assess and address legal risks; obtain regulatory approvals; and assist in negotiations with banks and regulators.
News
28 Oct, 2021

Marchenko Partners advised a DFSA regulated company on Ukrainian law matters concerning launch and operation of international fintech project.  The project concentrates on digital platform …

26 May, 2021

Marchenko Partners advised Western NIS Enterprise Fund in connection with financing of two social enterprises in Eastern Ukraine – Veterano Pizza Mariupol and AnVita clinic …

29 Apr, 2021

Marchenko Partners advised WNISEF in connection with granting two social loans to Smachni Spravy LLC and Pizza Veterano Kyiv. These loans added up to 24 …

16 Mar, 2021

Marchenko Partners acted for Western NIS Enterprise Fund in connection with financing of Printing House in Kramatorsk.  The financing was provided in cooperation with Oschadbank, …

27 Jan, 2021

Marchenko Partners represented EnergoGroup in connection with the restructuring of more than US$1 billion debt under the PXF facility granted by a syndicate of international …

13 Jan, 2021

Oleksandr Poznyakov, Associate in Banking & Finance, prepared an article for AgroPortal, dedicated to the topic "Peculiarities of Pledge and Foreclosure on Simple Grain Warehouse …

9 Nov, 2020

Marchenko Partners advised a Swiss fund on a US$15 million pre-export financing.  The borrower under the PXF loan was a major Ukrainian agricultural group who needed credit …

5 Nov, 2020

Marchenko Partners acted as a legal counsel for WNISEF, its longstanding client, in connection with granting a social loan to Walnut House, a Lviv-based bakery. …

2 Oct, 2020

Bogdan Burlaka, Associate in Banking & Finance, and Oleksandr Poznyakov, Junior Associate in the same practice, prepared an article for AgroPortal, dedicated to the topic "Peculiarities …

30 Jun, 2020

The 2021 edition of IFLR1000 recommends Marchenko Partners in Banking and Finance, M&A, and Project Development practice areas. Additionally, our Partner Roman Shulyar is recommended as "a …

18 Jun, 2020

Bogdan Burlaka, Associate in the Banking & Finance Practice, prepared an article for Yuryst&Zakon news portal, dedicated to the topic "Fintech Available to Everyone: Will …

23 Apr, 2020

Roman Shulyar, Partner and Head of Banking & Finance Practice, and Bogdan Burlaka, an Associate in the same practice, prepared an article for Vector web …

30 Dec, 2019

Marchenko Partners acted for an EU registered bank in connection with an extension of credit limit of trade finance facility.  The borrower under the facility …

Recognition

The Legal 500 EMEA 2021
recommends Roman Shulyar
as a Leading Individual in Banking, Finance and Capital Markets

The Legal 500 EMEA 2021 recommends
Marchenko Partners in Banking,
Finance and Capital Markets

Who’s Who Legal 2021 recommends
Roman Shulyar in Capital Markets – Debt & Equity

The IFLR1000 2021 recommends
Marchenko Partners in Banking and Finance

The IFLR1000 2021 recommends Roman Shulyar
as a Highly Regarded lawyer in Banking & Finance

“Ukrainian Law Firms 2021.
A Handbook for Foreign Clients”
recommends Roman Shulyar
as a notable practitioner in
Banking & Finance

Ukrainian Law Firms 2021
recognizes Marchenko Partners in
Banking & Finance

The Legal 500 EMEA 2020 recommends
Marchenko Partners in Banking,
Finance and Capital Markets

The IFLR1000 2020 recommends
Roman Shulyar in M&A
as “a highly regarded lawyer”

The IFLR1000 2020 recommends
Roman Shulyar in Banking & Finance
as “a highly regarded lawyer”

The Legal 500 EMEA 2019 recommends
Roman Shulyar in Banking & Finance and
Capital Markets

Who’s Who Legal 2019 recommends
Roman Shulyar in Capital Markets – Debt & Equity

The IFLR1000 2019 recommends
Roman Shulyar in M&A
as “a highly regarded lawyer”

“Ukrainian Law Firms 2019. A Handbook for Foreign
Clients” recommends Roman Shulyar
as a notable practitioner in Banking & Finance, Capital Markets, Debt Restructuring

The IFLR1000 2018 recommends Roman Shulyar
as “a highly regarded lawyer” in Banking & Finance

Banking & Finance

From  LMA  loan  agreement

to blockchain-based fintech solutions

From  LMA  loan  agreement

to blockchain-based fintech solutions