Baker & McKenzie announcedtoday that it has recently acted as Ukrainian law counsel to theInternational Finance Corporation (IFC) in connection with USD350million long term financing to Industrial Union of Donbass (IUD), oneof the largest Ukrainian steel making and trading companies with morethan forty industrial enterprises in Ukraine and other countries.

IFC provided USD100 million loan facility for its own account withthe remaining USD250 million syndicated B-loan to be raised fromleading international banks. ABN AMRO Bank N.V. and Société GénéraleCorporate and Investment Banking are acting as coordinating mandatedlead arrangers and bookrunners of the B-loan. The attracted funds willbe used for the purpose of financing corporate investment program ofthe IUD, including modernization of two iron and steel plants andimplementation of environmental action plan.

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

IFC is a private sector arm of the World Bank Group, which fosterssustainable economic growth in the developing countries by financingprivate sector investment and mobilizing capital in the internationalfinancial markets. The Kyiv office of Baker & McKenzie has beenassisting IFC with its investment projects in Ukraine since officeopening and helped to attract IFC financing in different economysectors 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-profiletransaction and we believe that this transaction will give a furtherthrust to the modernization of country’s steel industry.”