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- Bryan Cave Leighton Paisner (Russia) LLP advises International Investment Bank (IIB) on a RUB 6bn (USD 96.5m) financing to State Transport Leasing Company (GTLK)
News & Press
17 September 2018 Bryan Cave Leighton Paisner (Russia) LLP advises International Investment Bank (IIB) on a RUB 6bn (USD 96.5m) financing to State Transport Leasing Company (GTLK)
Bryan Cave Leighton Paisner (Russia) LLP has successfully acted for the International Investment Bank (IIB), a multilateral development bank mainly operating in Eastern Europe, Russia and Asia, on a RUB 6bn (USD 96.5m) revolving multi-asset secured facility for financing and refinancing the acquisition of a number of passenger and special purposes aviation and mining assets with one of the biggest Russian lessors, State Transport Leasing Company (GTLK). The financing terms permit the funds to be used for the acquisition of Let L-410 Turbolet regional passenger jets, helicopters Ansats and Mi-8s with medical modules and BELAZ mining trucks.
The Bryan Cave Leighton Paisner (Russia) LLP team was led by Tatiana Parshak, Counsel, who was assisted by associates Artemiy Bondarev and Dmitry Ionov. Oleg Khokhlov, Partner, Head of Banking and Finance, supervised the project.
This deal is a successful example of implementation of the state programme aimed at developing regional aviation and at increasing the accessibility of medical care in remote areas of the Russian Federation. It is also an example of strategic collaboration between IIB and GTLK under the partnership agreement signed in 2016 and is the third project for IIB and GTLK on financing aviation and other assets on which Bryan Cave Leighton Paisner (Russia) has successfully represented IIB as the lender. In December 2016 Bryan Cave Leighton Paisner (Russia) LLP acted for IIB on the debut financing of GTLK’s acquisition of 11 Let L-410 Turbolet aircraft and in June 2017 on the RUB 3.6 billion financing of the acquisition of a range of passenger aviation and other special assets.
About the International Investment Bank (IIB)
The International Investment Bank (IIB) was established in 1970. Its current members/shareholders are Bulgaria, Hungary, Vietnam, Cuba, Mongolia, Russia, Romania, Slovakia and the Czech Republic. Since 2012, the IIB has been reformed fundamentally and rated BBB (outlook stable) by S&P Global Ratings, Baa1 (outlook stable) by Moody’s, BBB (outlook stable) by Fitch and A (outlook stable) by Dagong. www.iib.int
About Bryan Cave Leighton Paisner (Russia) LLP
The Russian practice of Bryan Cave Leighton Paisner (before the merger – Goltsblat BLP) was established in 2009 as a result of a merger between one of the biggest teams of Russian lawyers and the major UK law firm Berwin Leighton Paisner (BLP). The highly respected Moscow team of over 100 lawyers, qualified under Russian and English law, has over 20 years of experience in providing legal support for major Russian businesses, as well as multinationals implementing large-scale investment projects in Russia. Clients include over 1700 companies, among them major multinational investors operating in Russia (including 130 Forbes Global clients), Russian and international banks and financial institutions and Russian industry-leading companies. 5 times winner of Law Firm of the Year in Russia since 2009, including Chambers Europe Awards 2010, 2014 and 2015; The Legal Business Awards (Legal 500) 2010; The Lawyer European Awards 2014. #2 by revenue in the top-50 law firm ranking by revenue in Russia (according to the leading national ranking Pravo.Ru 2017). Top-ranked by The Legal500 and Chambers & Partners in core practice areas: corporate/M&A, real estate & construction, dispute resolution, competition/antitrust, tax/customs, IP. www.bclplaw.com