Sayenko Kharenko advised EBRD

Sayenko Kharenko acted as legal counsel to the European Bank for Reconstruction and Development on providing the EUR 40 million loan to Kronospan UA, a wood-based panel producer, to finance its capital expenditure.

The project assumes upgrading of the key production facilities and equipment. The financing raised under the project will also be used by Kronospan UA to invest into a new biomass boiler that should allow to significantly reduce greenhouse emissions.

The total project cost is EUR 67 million, of which EBRD provides EUR 40 million and the rest EUR 27 million will be complemented by Kronospan’s own funding.

Sayenko Kharenko team for the current transaction included counsel Anton Korobeynikov, associates Alla Kushnirenko, Marta Lozenko and Taras Shyb, and was led by partner Nazar Chernyavsky.