Avellum

Ukraine

IFLR1000 Reviews

Financial and corporate

Avellum is a full-service law firm founded in 2009. It is based in Kyiv and today employs more than 50 lawyers.   

 

Focusses / specialisms

The firm is experienced in advising foreign and local clients on cross-border transactions in all areas of corporate law and project development.

In banking and finance the firm advises borrowers and lenders on various types of loan and project financing. It has a track record of working on institutional financing that comes form organisations such as the EU and the EBRD, as well as governments.

In corporate and M&A it advises foreign and local purchasers and sellers on cross-border acquisitions and sales.

In project development it is equally experienced in advising contractors and developers on projects across various industries but it’s particularly active in the renewable energy and the oil and gas sectors.

In restructuring and insolvency it often advises the financing and the insolvent party on restructurings, insolvency proceedings and bankruptcies.

 

Key clients

Among its clients are Investments, Kernel, British American Tobacco, Goldman Sachs, Horizon Capital, Investment Capital Ukraine, EBRD, BSTDB, FMO, Metinvest, DTEK, and Kernel Holding.

 

Research period review: 31st edition (2020/2021)

During the research period the firm has been active in banking and finance, capital markets, corporate and M&A, project development, and restructuring and insolvency.

In banking and finance the firm advised borrowers and lenders on term loans, bilateral loans, project financing, export credit facilities, and trade financing, as well as on institutional investments such as intergovernmental loans, financing from the European Union, and EBRD backed project financing.

In capital markets it advised on bond sales and acted for lenders on loan securitisations. was particularly active in advising issuers on bond issues, senior notes issues, eurobond offerings of loan participation notes, and benchmark notes issues.

In corporate and M&A the firm advised purchasers and sellers on acquisitions and sales in a broad range of industries, ranging from retail to oil and gas.

In project development it advised investors, contractors and developers on projects mainly in the renewable energy and oil and gas sectors.

In restructuring and insolvency it advised the lending side and the insolvent side on insolvency proceedings, restructurings of financial liability, and bankruptcies. It also advised performing businesses on pre-sale restructurings and intra-group restructurings.

A recent staffing change was the recruitment of Oleksandr Volodin, as an associate in corporate and M&A. He joined from Moris Group.  

                         

Deal highlights: 31st edition (2020/2021) 

Cargill Financial Services International €250 million bilateral loan

JKX Oil & Gas acquisition of Riverside Energy

Kernel Holding $300 million 6.75% bond issue

Metinvest $333 million eurobond issue

Ministry of Finance of Ukraine $2 billion 7.253% bond issue

Ministry of Finance of Ukraine €1.25 billion bond issue

Mriya group insolvency

Ukreximbank $316 million cash tender offer

Vodafone Ukraine $500 million eurobond issue

 

Client feedback: 31st edition (2020/2021)

Banking and finance

"Avellum and especially the responsible lawyer was very responsive and very proactive with regards to advice on recent regulatory requirements. "

"Avellum provided professional and comprehensive advice in connection with Ukrainian part of work for both issuance of new notes and LM exercise. The project team was dedicated, demonstrated good knowledge of the client's needs."

"Very professional and able lawyers. Glib is one of the market leaders. Very knowledgeable about the law and the market in Ukraine."

 

Capital markets                                 

"The Avellum team demonstrates strong legal expertise coupled with commercial approach and impressive efficiency. Working with them is always great as I feel we work as one team and in fact one firm sharing the same philosophy. "

 

Capital markets : Debt                      

"Cooperate with major international legal firms and jurisdictions where company assets are presented. "

 

M&A                           

"Deliver what is promised on time."

"Avellum is known for the excellence of its work and they proved it again on our transaction. Their ideas were innovative, their execution was perfect and their response times were always < 1 hour any time of the day. I always appreciate it when lawyers are ready to meet my timeline and execute on it."

"I've always found Avellum to be top of the market in Ukraine. They offer truly international quality advice, on a timely, consistent and efficient basis. They embed themselves in our team and partner with us to offer truly commercial, top-quality advice across their team. "

"This is one of those (actually rare examples of) a firm that 'goes extra mile' not 'on paper' but in real life. These guys were available 24/7 and arranged for real quick turnaround of documents with top quality. What I also liked was that they tried to give advice that is not only legally correct but also sound business-wise. For example, when they saw that commercial (not legal) terms suggested by our counterparty did not correspond to market practice (based on their experience), they proactively flagged this. In some sense, I view them not as just lawyers, but rather as legal business consultants."

"Very experienced in complex structuring issues."

"In short: they are there when I need them and they provide the best advice I can get in Ukraine on all M&A matters; extremely knowledgeable, responsive and have confidence and experience to deliver on any M&A task."

 

Project development : Energy                                  

"Avellum provides practical guidance on adhering to and navigating local law, regulation and practice. "

 

Andriy Romanchuk       

"Smart; responsive; professional; great negotiator."

"Very responsive; very proactive. "

 

Glib Bondar      

"Glib Bondar is an excellent professional and has a deep legal expertise. "

"Glib is a true emerging markets lawyer, very smart, commercial and quick to respond to tricky questions and find solutions. "

"Responsiveness and dedication to projects."

 

Mykola Stetsenko         

"An excellent relationship manager who is always thoughtful and caring about getting the best results for the client and the team. He also offers pragmatic, commercial advice - something particularly important in a complex jurisdiction like Ukraine."

 

Yuriy Nechayev

"Responsive; professional."

"Simply put, I think he is the best M&A lawyer that market has at the moment. I am very privileged to work with Yuriy for close to a decade."