Redcliffe Partners acted as Ukrainian legal counsel to The State of The Netherlands (The Minister for Foreign Trade and Development Cooperation), acting through Invest International Public Programmes B.V. in providing an up to EUR 27 million secured loan to the Kovalska Group, a leading Ukrainian construction material company, to finance the construction of and equipping a new concrete production plant located in Rozvadiv, Western Ukraine.
The project is funded via the Dutch Good Growth Fund (DGGF), which represents the ongoing support and reconstruction initiatives of the Dutch government along with the collective efforts of international institutions, foreign governments and private investors in contributing to Ukraine’s recovery.
Redcliffe Partners offered the client thorough legal guidance under Ukrainian law, encompassing the review and support in negotiating Dutch law transaction documents, as well as the drafting, negotiation, and implementation of a comprehensive security package under Ukrainian law, and all-round support in making the first disbursement. Unique aspects of the transaction included manoeuvring through complexities of the Ukrainian war cross-border payment moratorium, as well as a complex bank account security structure.
Our team comprised Olexiy Soshenko, managing partner, Sevastian Viktoruk, associate, and Artem Mykhailyk, paralegal.