Goltsblat BLP advised JSC INTER RAO UES in relation to the 9.6 billion rubles loan agreement with European Bank for Reconstruction and Development (EBRD)


Goltsblat BLP, the Russian practice of Berwin Leighton Paisner (BLP), advised JSC INTER RAO UES  on the loan agreement with European Bank for Reconstruction and Development (EBRD) for a 9.6 billion rubles 5-year convertible loan with a floating interest rate equal to 8.81% per annum as of the date of signing.

The loan agreement and all transaction documentation are governed by English law.

EBRD will have an option to convert the loan into common shares of INTER RAO UES Group within 4.5 years after disbursement.

Cooperation between INTER RAO UES Group and the EBRD within this project is not limited only to financing, but also implies implementation of a number of measures and initiatives aimed at improving corporate governance, environmental, health and safety standards, as well as increasing INTER RAO UES Group investor appeal.

Goltsblat BLP advised on the English and Russian law aspects of the overall transaction.

Simon Allan, partner, head of Banking & Finance at Goltsblat BLP, said: “It has been a pleasure to support JSC INTER RAO UES in this strategic project which also represents an important further step in the development of our business here in Moscow."

The transaction team was led by partner and head of Goltsblat BLP’s Banking and Finance Practice Simon Allan and Banking & Finance partner Oleg Khokhlov. The transaction also involved partners Andrei Baev and Philip Whale in London, senior associate Tatiana Parshak and associates Martin Lambe and Igor Zhivotov.

Contact details

For all issues related to publications, news and press releases, please contact:

Ksenia Soboleva

Head of PR and Communications


If you would like to receive our legal alerts and updates highlighting current legal issues relevant to your areas of interest and providing expert commentary by our lawyers, please click on "Sign Up" and fill out the form.