Magister & Partners Advises CJSC “First Ukrainian International Bank” in USD 150 Million Issue of Loan Participation Notes

February 19, 2007

Magister & Partners advised CJSC "First Ukrainian International bank", which acted as the borrower in the issuance of USD 150 million 9.75% loan participation notes. The loan participation notes have been issued by Standard Bank Plc for the sole purpose of funding a loan to CJSC "First Ukrainian International bank".

Magister & Partners acted as the Ukrainian legal counsel to the borrower, while Latham & Watkins acted as the English legal counsel. Legal support has been provided by Olga Khoroshylova, Partner, the head of Banking & Finance Practice of the firm in the CIS and associates Roman Stepanenko and Viktoriya Podvorchanska. Tax aspects of the transaction were covered by Oleh Marchenko, Tax Partner and the head of the Tax Practice of the firm and Associate Anna Zorya.