We have acted as international counsel to Asian Development Bank in relation to its secured loan facilities totalling $18 million for Ulaanbaatar Flour LLC, Tavan Bogd Foods LLC and Tavan Bogd Foods Pizza LLC, members of the Tavan Bogd group of companies in Mongolia. The facilities are intended to support food security and job creation and to help mitigate supply chain disruptions caused by the COVID-19 pandemic and the Russian invasion of Ukraine.
We advised Asian Development Bank in relation to its US$30 million loan facility for Smartchem Technologies Limited, a subsidiary of Deepak Fertilisers and Petrochemicals
We advised Asian Development Bank on its $15 million (or KZT equivalent) loan facility for LLC Microfinance Organization KMF. The facility is to be used for the expansion of access to credit for micro, small, and medium-sized enterprises in Kazakhstan.
We have advised Asian Development Bank on its $5.9 million equivalent local currency secured loan facility for Avrora LLC, one of the largest food and beverage manufacturers and distributors in Azerbaijan.
Paine Stevens has acted as English law counsel to Asian Development Bank on its $12 million secured loan facility for Foreign Entity Anglesey Food LLC (Korzinka.uz), Uzbekistan’s leading grocery retailer.
We have acted as English and Georgian counsel to Asian Development Bank in relation to its $100 million (local currency equivalent) facility for TBC Bank.