Aequo advises Industrialbank on the first-ever financial restructuring under the new law of Ukraine “On Financial Restructuring” with multiple creditors

Aequo advised JSCB Industrialbank in the course of restructuring USD 19.7 million indebtedness under a syndicated loan granted to Ukrainian borrower Mercury LLC, which had been secured by a mortgage on the Kyiv Hotel ‘Khreschatyk’.

It was the first financial restructuring under the Ukrainian Law ‘On Financial Restructuring’, and involved multiple creditors: JSCB Industrialbank, JSC Express-Bank and the financial company Capital Express LLC.

Aequo’s team assisted Industrialbank in negotiating the terms for restructuring, and in preparing the restructuring documentation - including the restructuring plan - as well as supporting JSCB Industrialbank to the completion of the transaction.