NEWS (June 10, 2021)

CMS advised EBRD on financing for Kokhavynska Paper Factory

International law firm CMS has acted as English legal counsel to the European Bank for Reconstruction and Development in a EUR 13.8 million loan to the Kokhavynska Paper Factory (KPF), one of the largest producers of recycled paper and tissue.

Based in western Ukraine, KPF intends to use the financing to extend its product range, increase its production capacity, and improve its operating efficiency.

In addition, more than EUR 1 million will be allocated to the modernisation of a wastewater filtering facility as well as to energy efficiency and climate adaptation measures.

The energy efficiency improvements will be supported with an incentive grant of USD 131,433 provided by the EBRD’s Finance and Technology Transfer Centre for Climate Change (FINTECC) programme, which is designed to transfer technology in the areas of climate change mitigation and adaptation.

The CMS team included Elitsa Ivanova (Head of Finance at CMS Sofia), Ihor Olekhov (Head of Banking & Finance at CMS Kyiv), Orest Matviychuk (senior associate) and Katerina Hristova (associate).

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