Kyiv/London, 15 October 2008 – Baker & McKenzie announced today that it has recently acted as Ukrainian and English law counsel to Joint Stock Company Integrated Iron & Steel Works "Zaporizhstal" (Zaporizhstal) with respect to US$250 million syndicated secured pre-export finance facility, arranged by Citibank, N.A., London Branch.

Zaporizhstal is one of the largest industrial Ukrainian enterprises, which produces pig iron, carbon, low-alloy, alloy and stainless steel slabs, hot-rolled and cold-rolled steel in sheets and in coils (HRC and CRC) from 0.5 to 8.0 mm thick of carbon, alloy, and ground and polished stainless steel sheets, as well as cold roll-formed sections. The company is Ukraine's only manufacturer of cold-rolled sheets, used in car manufacturing, as well as tinplates and polished stainless and alloyed steel.

The transaction also envisaged a backstop facility which was structured as a bridge facility until the syndication has been drawn, and was refinanced from the pre-export finance facility proceeds.

The joint Baker & McKenzie team was led by Partners Ian Jack in London and Glib Bondar in Kyiv, with key input from associates Anna Makedonska and Hanna Shtepa in Kyiv, and Ping Yeung in London.