MARIANA VEREMCHUK

Senior Associate

Information

Mariana Veremchuk – Senior Associate at AVELLUM’s finance practice. Mariana is regularly involved in advising both Ukrainian and international clients on matters relating to lending, capital markets transactions and debt restructurings.

Before joining AVELLUM Marianna was an intern at Citibank Ukraine.

  • EDUCATION AND BAR ADMISSION

      Master of International Law degree, 2022, the Institute of International Relations of Taras Shevchenko National University of Kyiv

  • RECENT EXPERIENCE

      Acted as the Ukrainian legal counsel to the Ministry of Finance of Ukraine in connection with a EUR200 million 15-year loan from the Italian Republic.

      Acted as the Ukrainian legal counsel to the Ministry of Finance of Ukraine in connection with a CAD450 million 10-year loan from Canada, disbursed through the I MF Administered Account for Ukraine.

      Acted as the Ukrainian legal counsel to the Ministry of Finance of Ukraine, (ii) Private Joint Stock Company “National Power Company “Ukrenergo” (“Ukrenergo”), and (iii) the State Road Agency of Ukraine (“Ukravtodor”) in connection with their consent solicitations announced in July 2022.

      Advised J.P. Morgan as the solicitation agent on a consent solicitation related to the outstanding USD 500 million 6.20% loan participation notes due 2025 issued by VFU Funding plc.

      Advised the National Power Company “Ukrenergo” on its debut USD 825 million issuance of 6.875% sustainability-linked notes guaranteed by Ukraine. The issue represents the first Green and Sustainability-linked instrument from a Ukrainian issuer

      Acted as the Ukrainian legal counsel to the Ministry of Finance of Ukraine in connection with a USD500 million tap issue of Ukraine’s 6.876% notes due 2029, which were issued earlier this year. The total outstanding principal amount of the notes after the increase is USD1.75 billion

      Advised Interpipe Holdings Plc on USD300 million issue of 8.375% guaranteed notes due 2026. The notes were admitted to listing on the Luxembourg Stock Exchange

      Advised (і) the State Road Agency of Ukraine (“Ukravtodor”) on a debut USD700 million issue of 6.25% guaranteed notes due 2028 with a benefit of the sovereign guarantee, and (ii) the Ministry of Finance of Ukraine in connection with the sovereign guarantee

      Advised the Ministry of Finance of Ukraine in connection with a USD1.25 billion notes issue with an 8-year maturity priced at 6.875% annual yield

      Advised Joint Stock Company “The State Export-Import Bank of Ukraine (“Ukreximbank”) as borrower and Goldman Sachs International as dealer manager on USD316 million cash tender offer

      Advised Kernel Holding S.A. on USD300 million offering of 6.75% guaranteed notes due 2027 combined with a tender offer for the notes maturing in January 2022

      Advised the Ministry of Finance of Ukraine on USD600 million tap issue of Ukraine’s outstanding USD2 billion 7.253% notes due 2033

      Advised Metinvest B.V. on issuance of USD333 million, 7-year 7.65% notes due in 2027; and cash tender offers on its USD118 million 7.50% senior notes due 2021, of which USD115,309,027.07 were then outstanding, and USD944.5 million 7.75% senior notes due 2023, of which USD504,515,000.00 were then outstanding, with a concurrent consent solicitation in respect of the 2021 bonds to include the issuer’s call option

      Advised Ministry of Finance of Ukraine in connection with an open market repurchase of Ukraine’s outstanding GDP-linked warrants funded through a tap issue of sovereign Eurobonds

      Advised the Ministry of Finance of Ukraine on the issuance by Ukraine of its new USD2 billion 7.253% senior notes due 2033

      Advised JP Morgan Securities Plc, Raiffeisen Bank International, Dragon Capital, and ICBC Standard Bank as joint lead managers on Vodafone Ukraine’s Eurobond offering of USD500 million 5-year 6.2% loan participation notes

      Advised Interpipe on both loan and capital market instruments in the course of the general USD1.25 bln debt restructuring, as well as advised on the parallel working capital facility restructurings

      Advised the Ministry of Finance of Ukraine on milestone issue by Ukraine of EUR1 billion notes with a 7-year tenor, marking the first euro-denominated offering Ukraine has made in almost 15 yearsAdvised MHP Lux S.A. on USD350 million offering of 6.250% notes due 2029

      Advised MHP Lux S.A. on USD350 million offering of 6.250% notes due 2029. The transaction was structured as an offering of the Notes guaranteed on a senior basis by MHP SE and certain of its Ukrainian and Cypriot subsidiarie

      Advised Kernel Holding S.A. in connection with an offering of USD300 million 6.5% guaranteed notes due 2024

      Advised Citigroup Global Markets Limited as lead manager in connection with an offering by Naftogaz of Ukraine of USD500 million 7.625% loan participation notes due 2026

      Advised DTEK Renewables on a debut EUR325 million 5-year 8.50% green Eurobond offering

      Advised J.P. Morgan Securities and Morgan Stanley in connection with USD100 million Tier 2 Eurobond offering by the State Export-Import Bank of Ukraine (“Ukreximbank”)

      Advised DTEK Renewables B.V on the issue of senior notes by DTEK Renewables Finance B.V. guaranteed by its parent DTEK Renewables B.V. as well as by SOLAR FARM-3 LLC and ORLOVKA WEP LLC, which are both subsidiaries of DTEK Renewables B.V

      Advised the Ministry of Finance of Ukraine on the EUR1.25 bln breakthrough issuance of Ukraine’s euro-denominated notes

      Advised the Ministry of Finance of Ukraine in connection with two loan agreements for a total amount of EUR116 million together constituting official financial support from France to Ukraine aimed at strengthening maritime safety and security of Ukraine

      Advised EBRD in connection with up to a EUR50 mln loan to Communal Enterprise “Kyivskiy Metropolitan” guaranteed by the Kyiv City Council

      Advised the Ministry of Finance of Ukraine on a bilateral loan in the amount of EUR250 million from Cargill Financial Services International. The transaction marked the first recent bilateral loan to finance the state budget from a private investor

      Advised BSTDB in respect of provision of a EUR 30 million loan to a leading Ukrainian Ukrgasbank to promote financing for environmentally friendly projects, including energy efficiency and renewable energy projects

      Advised the Ministry of Finance of Ukraine on the fifth macro-financial assistance programme from the European Union

      Advised J.P. Morgan Securities Plc and Raiffeisen Bank International AG as arrangers on USD464 million bridge loan financing for Bakcell’s acquisition of Private Joint Stock Company "Vodafone Ukraine"

      Advised EBRD in connection with a long term secured loan to Limited Liability Company “Novi Biznes Poglyady” in the total amount of up to EUR52.5 million

      Advised the Black Sea Trade and Development Bank in connection with a long-term secured loan to Limited Liability Company “Butsefal” and Prometey Swiss SA in the total amount of up to USD10 million

      Advised on regulatory matters on additional agreement to a power purchase agreement circulated by State Company “Guaranteed Buyer” to the producers from the renewable energy sources in January 2021

Related materials

Newsroom

AVELLUM ADVISES THE MINISTRY OF FINANCE OF UKRAINE ON OFFICIAL LOANS EXTENDED TO UKRAINE BY ITALY AND CANADA

AVELLUM acted as the Ukrainian legal counsel to the Ministry of Finance of Ukraine.

Posted on September 12, 2022

Newsroom

AVELLUM ACTS FOR UKRAINE ON CONSENSUAL DEFERRAL OF EXTERNAL DEBTS WORTH OVER USD25 BILLION

AVELLUM acted as the Ukrainian legal counsel to (i) the Ministry of Finance of Ukraine, (ii) Private Joint Stock Company “National Power Company “Ukrenergo” (“Ukrenergo”), and (iii) the State Road Agency of Ukraine (“Ukravtodor”).

Posted on September 12, 2022

News

AVELLUM ADVISES ON UKRAINE’S USD500 MILLION TAP ISSUE

AVELLUM acted as the Ukrainian legal counsel to the Ministry of Finance of Ukraine in connection with a USD500 million tap issue of Ukraine’s 6.876% notes due 2029, which were issued earlier this year. The total outstanding principal amount of the notes after the increase is USD1.75 billion.

Posted on September 12, 2022
AVELLUM acted as the Ukrainian legal counsel to the Ministry of Finance of Ukraine in connection with a USD500 million tap issue of Ukraine’s 6.876% notes due 2029, which were issued earlier this year. The total outstanding principal amount of the notes after the increase is USD1.75 billion. It took less than a week for all the parties involved to progress the deal from kick-off to launch. “Overall, it was a quick and efficient transaction that allowed the Ministry to benefit from the favourable market conditions”, – commented Glib Bondar, senior partner of AVELLUM. AVELLUM team was led by senior partner Glib Bondar with significant support from associates Oleg Krainskyi, Mariana Veremchuk and Yaroslav Pavliuk.

Newsroom

AVELLUM ADVISES ON UKRAVTODOR’S DEBUT USD700 MILLION EUROBOND ISSUE GUARANTEED BY UKRAINE

AVELLUM acted as the Ukrainian legal counsel to (і) the State Road Agency of Ukraine (“Ukravtodor”) on a debut USD700 million issue of 6.25% guaranteed notes due 2028 with a benefit of the sovereign guarantee, and (ii) the Ministry of Finance of Ukraine in connection with the sovereign guarantee. The notes were admitted to listing on the London Stock Exchange

Posted on September 12, 2022
AVELLUM acted as the Ukrainian legal counsel to (і) the State Road Agency of Ukraine (“Ukravtodor”) on a debut USD700 million issue of 6.25% guaranteed notes due 2028 with a benefit of the sovereign guarantee, and (ii) the Ministry of Finance of Ukraine in connection with the sovereign guarantee. The notes were admitted to listing on the London Stock Exchange. JP Morgan and Dragon Capital acted as joint bookrunners and joint lead managers, and JSC Ukreximbank as co-manager of the Eurobond issue. Priced at 6.25 per cent, Ukravtodor has received one of the lowest coupon rates among all issues of Ukrainian sovereign and quasi-sovereign Eurobonds denominated in US dollars in the history of Ukraine's independence. The proceeds of the issue will be used to upgrade the road infrastructure in Ukraine within the Great Construction governmental programme. “We were privileged to assist both Ukravtodor and the Ministry of Finance of Ukraine on this challenging transaction. This is a truly landmark transaction due to the speed of execution, pricing, and certain innovative structuring features. I am confident that this transaction will have a powerful social and economic impact on improving Ukrainian road infrastructure in the near future.” - said Glib Bondar, senior partner of AVELLUM. AVELLUM team was led by senior partner Glib Bondar with significant support from senior associate Anastasiya Voronova and associates Oleg Krainskyi, Anna Mykhalova, Mariana Veremchuk, and Yaroslav Pavliuk. Partner Vadim Medvedev, senior associate Anton Zaderyholovа, and associate Oles Bidnoshyia provided support on tax matters of the transaction.

Newsroom

AVELLUM ADVISES INTERPIPE ON USD300 MILLION EUROBOND ISSUE

AVELLUM team was led by senior partner Glib Bondar with significant support from senior associate Anastasiya Voronova and associates Oleg Krainskyi, Anna Mykhalova, and Mariana Veremchuk.

Posted on September 12, 2022
AVELLUM acted as the Ukrainian legal counsel to Interpipe Holdings Plc (“Interpipe”) on USD300 million issue of 8.375% guaranteed notes due 2026. The notes were admitted to listing on the Luxembourg Stock Exchange. Goldman Sachs International and J.P. Morgan acted as joint lead managers and bookrunners of the Eurobond issue. Interpipe is a global producer of steel pipes and railway wheels products, based in Ukraine. The company’s products are shipped to over 80 countries worldwide via a network of sales offices located in the key markets of Ukraine, Europe, North America, and the Middle East. AVELLUM team was led by senior partner Glib Bondar with significant support from senior associate Anastasiya Voronova and associates Oleg Krainskyi, Anna Mykhalova, and Mariana Veremchuk.

Newsroom

AVELLUM ADVISES MINISTRY OF FINANCE OF UKRAINE ON EUR116 MILLION FINANCING TO PURCHASE PATROL BOATS FOR STATE BORDER GUARD SERVICE OF UKRAINE

AVELLUM acted as the Ukrainian legal counsel to the Ministry of Finance of Ukraine in connection with two loan agreements for a total amount of EUR116 million together constituting official financial support from France to Ukraine aimed at strengthening maritime safety and security of Ukraine. 

Posted on September 12, 2022
AVELLUM acted as the Ukrainian legal counsel to the Ministry of Finance of Ukraine in connection with two loan agreements for a total amount of EUR116 million together constituting official financial support from France to Ukraine aimed at strengthening maritime safety and security of Ukraine. The official financial support is provided under the intergovernmental agreement between the Government of France and the Government of Ukraine and consists of: an official loan from the French treasury for EUR40 million; and a bank loan arranged by Crédit Agricole Corporate & Investment Bank for EUR76 million, covered by the French Export Credit Agency (BPI AE). Proceeds from both loans will be used to finance the supply of 20 vessels from OCEA S.A., a French shipbuilding company. It is planned that every fifth of these vessels will be constructed at a local shipyard in Ukraine. The project will allow to strengthen the national defence and bolster local shipbuilding in Ukraine. AVELLUM team working on the project was led by senior partner Glib Bondar with support from associates Oleg Krainskyi, Mariana Veremchuk, and Yaroslav Pavliuk.

Senior Associate

INNA ERBELIDZE

Inna Erbelidze is a Senior Associate at AVELLUM’s Real Estate and Infrastructure Practice.

Senior Associate

ROSTYSLAV MUSHKA

Rostyslav Mushka is a Senior Associate at AVELLUM’s Real Estate and Infrastructure Practice with a primary focus on land, real estate, construction, and infrastructure. 

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