White & Case advises Ukraine’s Ministry of Finance on UK Export Finance-backed loan to finance supply of ex-Royal Navy minesweepers

Press Release
1 min read

Global law firm White & Case LLP has advised Ukraine's Ministry of Finance, as borrower, on a UK Export Finance-backed loan for the supply of two ex-Royal Navy minesweepers and related services to the country's Ministry of Defence.

"This deal comes at a time when export credit agencies and other official sector players are expanding their support for Ukraine's economy as well as developing new products to facilitate companies trading with Ukraine to help it rebuild," said White & Case partner James Hardy, who led the Firm's deal team. "White & Case has a long and ongoing relationship with Ukraine, which has recently included advising on a range of emergency financing facilities provided by its bilateral and multilateral partners, and providing support on a variety of other strategic legal matters."

The contracts financed by the loan form part of a wider initiative by the UK and Ukraine governments to support Ukraine's maritime capabilities.

White & Case recently advised Ukraine's Ministry of Finance on the UK Export Finance-backed loan to reconstruct six bridges in the Kyiv region, and also on the comprehensive liability management transaction that deferred Ukraine's contractual obligation to make payments on its sovereign bonds.

The White & Case team in London which advised on the transaction included partner James Hardy and associates Prema Govind and Dionne Boahene.