Redcliffe acted as a legal adviser to EBRD in connection with a USD40 million financing of GNT Group, an integrated grain supply chain and export logistics group which operates in Odessa Seaport. The group will use this financing to expand its existing grain and metals terminal in Odessa Seaport.
The implementation of this project is expected to have a significant positive impact on the Ukrainian economy. The expanded terminal will allow larger volumes of industrial and agricultural exports to be transhipped through Odessa Seaport, and will also improve the Ukrainian seaport’s infrastructure.
The transaction required legal advice in several jurisdictions, including Ukraine, the UK, the UAE, Cyprus, and Switzerland. Clifford Chance advised EBRD on the English and UAE law aspects of the financing.
Redcliffe’s team included Olexiy Soshenko, managing partner, Evgeniy Vazhynskiy, associate, and Olesia Mykhailenko, junior associate. The team has previously been involved in a number of high-profile terminal financings in various parts of Ukraine, including Odessa, Illichivsk and Mykolayiv.