AVELLUM PARTNERS ADVISED FERREXPO ON THREE EXPORT FINANCING CREDITS

Avellum Partners, Kyiv, Ukraine
Monday, August 11, 2014

 Avellum Partners announced that it has acted as the Ukrainian legalcounsel to Ferrexpo in connection with the following three export financingcredits:

·         aUS$14.5 million credit provided by Private Export Funding Corporation (PEFCO)to Ferrexpo’s Ukrainian subsidiary LLC “FerrexpoYeristovo Mining” and guaranteed by Export-Import Bank of the United States. Itwas used to finance purchase of mining trucks and services from the UnitedStates for Ferrexpo’s mining business in Ukraine;

·         aUS$15.8 million credit provided by PEFCO to Ferrexpo’s Ukrainian subsidiary LLC “Ferrexpo Belanovo GOK” and guaranteed byExport-Import Bank of the United States. It was used to finance purchase ofmining trucks and services from the United States for Ferrexpo’s miningbusiness in Ukraine; and

·         aUS$10.7 million facility provided by AB Svensk Exportkredit (SEK) to Ferrexpo Poltava Mining andguaranteed by Exportkreditnämnden, the Swedish Export Credits Guarantee Board. BNPParibas Fortis acted as an arranger and facility agent. The facility was used to finance purchase of equipmentand services from Sweden for Ferrexpo’s mining business in Ukraine.

Ferrexpo’s resource base is the largest ironore deposit in Europe with approximately 20 billion tonnes of resources, it isthe largest producer of pellets in the CIS and the 5^th largest supplier of pelletsto the global steel industry.

The Avellum Partners team was led by Partner,Glib Bondar, with significant support from Associates Artem Shyrkozhukhov,Taras Dmukhovskyy and Anna Melnychuk.

Additional notes

For further information on the topic please contact Mykola Stetsenko,Managing Partner, Glib Bondar,Partner and Kostiantyn Likarchuk,Partner, or by telephone +380 44 220-0335 or via e-mail.