11 June 2020
Redcliffe Partners acted as a legal adviser to Citibank Ukraine in connection with a loan of up to USD30 million to Myronivsky Hliboproduct ("MHP"), one of the largest Ukrainian producers and exporters of agricultural products and poultry meat.
The loan will be used to finance MHP's working capital needs. The loan was negotiated and executed during the period of quarantine restrictions in Ukraine, and therefore it may serve as an example of business processes continuing despite such restrictions.
Redcliffe Partners' role in the transaction included reviewing, drafting and negotiating the loan agreement, the preparation of security documents, conducting a corporate check of the borrowers and Ukrainian pledgors, collection of conditions precedent, and the issuance of the Ukrainian legal opinion.