Among our latest activities, apart from advising our clients
on legal issues, OGK Law Firm has also participated in
Benchmarking Public Procurement project implemented by
Bank Group (USA), by contributing into the research
in respect of Ukrainian system of public procurement. Okhrimchuk
Grushyn Khandurin Law Firm has participated in this project
twice, in 2015 and 2016. Benchmarking Public Procurement
project was launched three years ago to address the lack
of comparable data on public procurement at the global
level. More specifically, the project focuses on regulatory
environments that affect the ability of private companies
to do business with governments. It is a global project
that aims to measure transaction costs of complying with
public procurement regulations globally. By highlighting
existing good practices, the end goal of the project is
to help governments undertake reforms to achieve better
value from public procurement and create more conductive
environment for private sector suppliers. Last year the
data were collected over 77 economies based on which an
analytical report highlighting the main findings was launched.
The data were aggregated under three thematic areas:
- The Integrity of the Public Procurement Process in a
- Bidding for a Public Procurement Tender in a country;
- Filing a complaint in Ukraine.
This year, 2016, the project is going to cover 189 economies,
where the contributors were offered to complete two
- The Public Procurement Life Cycle (on the different
phases of the public procurement cycle)
- Filing a Complaint (on the ease of challenging
a public procurement tender through a complaint system).
Transactions supported by our
- Advised Deutsche Bank AG, Amsterdam
Branch (the Lender)
and other related finance parties on the issues of Ukrainian
legislation with respect to making amendments to latest
facilities provided to Metinvest B.V. for the total amount
of up to USD 2.185.000.000.
- Provided Ukrainian law advice to Sanitec
in series of operations in connection with Sanitec Oyj’s
offering of €250 million secured notes, as well as in connection
with Sanitec’s refinancing of its existing credit facilities
by involving a new €50 million revolving credit facility.
to the transaction:
Issuer: Sanitec Oyj, a Finnish company, a leader in
bathroom ceramics manufacturing.
Initial purchasers: UBS Limited, Deutsche Bank AG,
London Branch, Danske Bank A/S and DNB Bank ASA;
UBS and Deutsche Bank acted as joint global coordinators
and joint bookrunners with Danske Bank and DNB Markets
as additional joint bookrunners.
The Notes and the Revolving Credit Facility are guaranteed
by Sanitec group entities in the Netherlands, England,
France, Finland, Italy, Germany, Poland, Sweden and Ukraine.
Other legal counsels retained: White & Case LLP, offices
in Finland, UK and other jurisdictions; Shearman & Sterling
LLP as a US, English, French, German and Italian counsel
to the initial purchasers.
- Provided legal advice to Deutsche
Bank AG, Amsterdam Branch in the series of transactions related to provision
of credit facilities and syndicated finance to Metinvest
B.V. (the Netherlands), in particular:
(i) for the amount of USD 300 mln. with Ukrainian enterprises
acting as surety and security providers. English Law
counsel - ReedSmith LLP.
(ii) for the amount of USD 300 mln., which was further
increased up to USD 560 mln., Ukrainian industrial
enterprises acting as surety and security providers.
counsel to the Lender – Dentons UKMEA LLP (UK), Dutch
–STEK law firm (the Netherlands); and
(iii) for the amount of up to USD 325 mln. with Ukrainian
industrial enterprises acting as surety and security
providers. English Law counsel to the Lender: White & Case LLP,
London, UK. Deutsche Bank AG acting as Coordinated Mandated
Lead Arranger, Bookrunner of syndicate; ING Bank N.V.,
Morgan Stanley Bank International Limited, Natixis, Rabobank
International and WestLB AG acting as Mandated lead Arrangers;
ABN AMRO Bank N.V. - as Arranger.
- Provided legal advice to Sanitec
Group of Companies (Finland) on the issues of Ukrainian legislation in respect
of early prepayment of credit facilities provided by one
of Ukrainian banks and Finnish Fund for Industrial Cooperation
LTD and releasing the security over the assets situated
in Ukraine. The total amount of financing was approximately
Euro 26 mln.
- Provided legal advice to Deutsche
Bank, Frankfurt, Germany on the issues of Ukrainian legislation (in particular,
suretyship issues under the facility) with respect to Loan
Agreement entered into by the Bank and Metinvest B.V. (the
Netherlands) (as the Borrower) of up to USD 24.640.000.
- Advised HSBC
Bank Plc, London, UK (the Lender) in relation
to providing term loan facility to the Ukrainian banks.
In the area of corporate finance OGK also advised a Ukrainian
fuel energy group in connection with the issuance of
Eurobonds, as well as Ukrainian commercial bank in connection
with the issuance of loan participation notes. In particular,
OGK lawyers advised DTEK Company with respect to issuance
of 9.5 % senior notes amounting to USD 500 mln.. ING
Bank N.V. (ING), the Royal Bank of Scotland plc. (RBS)
and Erste Group Bank AG managed the deal. The bookrunning
was arranged by ING and RBS.