Ulysses Advised Energogroup on Restructuring of Over US$1 Bln Debt

Ulysses represented EnergoGroup in connection with restructuring more than US$1 billion in 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.  EnergoGroup is an international industrial group originally including Makeevkoks, Yasynivskyi Coke Plant, Colliery Group Pokrovske, Concentrating Factory Sviato-Varvarynska, Donetsksteel – Iron and Steel Works, and other companies predominantly in steel and mining industries.

The debt restructuring transaction involved about 20 parties, 10 jurisdictions, and a voluminous security package comprised of mortgages, pledges, suretyships, guarantees, and temporary assignments.  Ulysses’ services included drafting and commenting on various restructuring documents governed by English and Ukrainian law, assisting EnergoGroup in negotiations with the lenders, and advising the Client on regulatory, contractual, and other relevant risks.

The matter was handled by Partner Roman Shulyar, Senior Associate Bogdan Burlaka, and Associates Ruslan Yurchenko and Oleksandr Poznyakov.