Baker & McKenzie Advises IFC on USD350 Million Loan Facility to Industrial Union of Donbass

Kyiv, 3 March 2008 – Baker & McKenzie announced today that it has recently acted as Ukrainian law counsel to the International Finance Corporation (IFC) in connection with USD350 million long term financing to Industrial Union of Donbass (IUD), one of the largest Ukrainian steel making and trading companies with more than forty industrial enterprises in Ukraine and other countries.

IFC provided USD100 million loan facility for its own account with the remaining USD250 million syndicated B-loan to be raised from leading international banks. ABN AMRO Bank N.V. and Société Générale Corporate and Investment Banking are acting as coordinating mandated lead arrangers and bookrunners of the B-loan. The attracted funds will be used for the purpose of financing corporate investment program of the IUD, including modernization of two iron and steel plants and implementation of environmental action plan.

The Baker & McKenzie team consisted of Kyiv office partner, Oksana Simonova, senior associate Iryna Nurzad and junior attorney Maria Maslova.

IFC is a private sector arm of the World Bank Group, which fosters sustainable economic growth in the developing countries by financing private sector investment and mobilizing capital in the international financial markets. The Kyiv office of Baker & McKenzie has been assisting IFC with its investment projects in Ukraine since office opening and helped to attract IFC financing in different economy sectors during the last five years.

Oksana Simonova, partner at the Kyiv office of Baker & McKenzie, commented: “We are delighted to have assisted IFC in this high-profile transaction and we believe that this transaction will give a further thrust to the modernization of country’s steel industry.”

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