We are advising Estonian Kaamos Group and its subsidiaries Kaamos Timber (Estonia) and Mozyr Sawmill (Belarus) on EUR 15 million debt financing from the European Bank for Reconstruction and Development (EBRD) for construction of a new sawmill in Belarus on a brownfield site near Mozyr, one of the country’s oldest towns.
This is the second EBRD financing for subsidiaries of Kaamos Group in Belarus. A new 7-year EBRD loan will finance a production facility with an annual manufacturing capacity of around 250,000 m3 of sawn softwood which will be exported to new and existing markets. The project will create around 100 new jobs in Mozyr and will help the group to almost double its annual production capacity in Belarus to 450,000 m3 of sawn softwood.
Kaamos Group is a leader in property development, construction and timber operating in Estonia, Latvia and Belarus.
The Sorainen cross-border team, consisting of partners Kiryl Apanasevich and Piret Jesse, with senior associate Ann Laevskaya, associates Artem Semchik and Robin Teever, has been advising the borrower on all legal aspects of this transaction, including drafting and negotiating the financing documents.
