Trade Finance magazine has named a transaction on which Gide Loyrette Nouel advised, the US$175,000,000 pre-export financing to JSC Acron (a leading global mineral fertiliser producer), arranged by VTB Bank (Austria) AG, "Deal of the Year" 2011.
This transaction was a classic pre-export financing but had a peculiar security and coverage ratio structure, one unusual aspect being that the coverage ratio was set with respect to the ultimate sales contracts whereas a typical pre-export finance structure will set the coverage ratios with respect to what is being assigned.
Grigory Marinichev, the partner in charge of Gide’s Russian finance practice who led the team advising VTB on this financing, commented: "It is an added bonus for us to advise on pioneering deals which subsequently win esteemed awards in the industry."
Notes to Editors
Gide Loyrette Nouel is a premier international law firm and the first to have originated in France. Founded in Paris in 1920, the Firm now operates from 19 offices in 15 countries. It has 650 lawyers, drawn from 40 different nationalities. Gide Loyrette Nouel offers some of the most respected specialists in each of the various sectors of national and international finance and business law. For further information, please visit our website: www.gide.com.
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Gide Loyrette Nouel (Moscow)
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David Lovell - Marketing Manager
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M: Communications
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