Sorainen Belarus advised the European Bank for Reconstruction and Development (EBRD) on Belarusian law matters in connection with lending USD 15 million to Modern-Expo group. A seven-year loan will be used to increase production volumes at the two principal manufacturing sites in Lutsk (Ukraine) and in Vitebsk (Belarus), as well as to restructure the group balance sheet.

Modern-Expo group, founded in 1993, is now is one of the largest manufacturers and suppliers of fixtures in Central and Eastern Europe. The list of its clients includes such major international retailers as Auchan, Carrefour, Billa and Nestlé. The Belarusian company in the group is a resident of the free economic zone ‘Vitebsk’.

The EBRD is an international financial institution that supports private sector and entrepreneurial initiative in 38 countries on three continents and is the largest institutional investor in the economy of the Republic of Belarus. From the commencement of its activity in Belarus in 1992 the bank has invested more than EUR 2 billion in projects in various sectors of the Belarusian economy.

Sorainen specialists assisted in structuring the deal, conducted legal due diligence of Belarusian enterprises in the borrower`s group, advised on the terms of the loan agreement from the Belarusian law perspective, drafted part of the security documents, as well as consulting the lender on other financing-related issues. The Sorainen Belarus team consisted of senior associates Ann Laevskaya and Aliaksei Daryin, legal assistant Artem Melnikovich and country managing partner Kiryl Apanasevich.