Practices

Restructuring

Heading

Overview

We have been involved in many of the high-profile Ukrainian debt restructurings.

Our expertise in matters of debt restructuring covers:

  • distressed asset transactions
  • reschedulings, reprofilings and other forms of restructuring, either consensual or contentious
  • formal insolvency proceedings
  • debtor advisory work

We regularly advise all types of Ukrainian debtors, from corporates to the sovereign to various state-owned quasi-sovereign entities, as well as individual and groups of creditors. Because we work regularly for both lenders and borrowers, we can see the very complex process of debt restructurings from every angle and can provide a strategic advice to our clients.

Our extensive experience in the fields of tax, corporate law and dispute resolution make our advice in debt restructurings comprehensive and valuable.

Key experience

Debt restructuring under the two inter-conditional English schemes of arrangement for DTEK Energy B.V. and DTEK Finance PLC

2

Bln USD

Legal advisor to DTEK Group

Open market repurchase of Ukraine’s outstanding GDP-linked warrants

1.5

Bln USD

Legal advisor to the Ministry of Finance of Ukraine

Dual-currency Eurobond issue and tender offer

834

Mln USD

Legal Advisor to Metinvest

Restructuring of sovereign-guaranteed term loans from JSC Sberbank of Russia to Ukravtodor and Yuzhnoye State Design Office

367

Mln USD

Legal Advisor to the Ministry of Finance of Ukraine

Exchange Offer under Guaranteed MTN Programme

500

Mln USD

Legal Advisor to Dealer Managers

Restructuring of guaranteed notes and the PXF syndicated loan facilities

2.3

Bln USD

Legal Advisor to Bondholders Committee of Metinvest

New Eurobond Issue and Exchange Offer and Consent Solicitation

100

Mln USD

Legal Advisor to Dealer Manager and Lender

Exchange Offer with scheme of arrangement, approved by English court

1.7

Bln USD

Legal Advisor to Bondholders Committee

Restructuring of thirteen sovereign and sovereign-guaranteed Eurobonds

15

Bln USD

Legal Advisor to Ministry of Finance of Ukraine

Show all key experience

Related materials

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AVELLUM highly regarded by Chambers Global and Europe 2026

AVELLUM highly regarded by Chambers Global and Europe 2026

Posted on March 20, 2026

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AVELLUM confirms its position in GRR 100 – 2026

AVELLUM confirms its position in GRR 100 – 2026

Posted on December 30, 2025

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AVELLUM is listed in GRR 100 – 2024

AVELLUM is listed in GRR 100 – 2024

Posted on December 2, 2024

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AVELLUM ACTS FOR UKRAINE ON CONSENSUAL DEFERRAL OF EXTERNAL DEBTS WORTH OVER USD25 BILLION

AVELLUM acted as the Ukrainian legal counsel to (i) the Ministry of Finance of Ukraine, (ii) Private Joint Stock Company “National Power Company “Ukrenergo” (“Ukrenergo”), and (iii) the State Road Agency of Ukraine (“Ukravtodor”).

Posted on August 30, 2022

News

AVELLUM ADVISES DTEK ON USD2 BILLION DEBT RESTRUCTURING

AVELLUM acted as the Ukrainian legal counsel to DTEK Group in connection with the debt restructuring under the two inter-conditional English schemes of arrangement for DTEK Energy B.V. and DTEK Finance PLC.

Posted on June 14, 2021
AVELLUM acted as the Ukrainian legal counsel to DTEK Group in connection with the debt restructuring under the two inter-conditional English schemes of arrangement for DTEK Energy B.V. and DTEK Finance PLC. Under the restructuring terms approved by the High Court of Justice of England and Wales, part of the current debt under DTEK Energy B.V. notes was converted into DTEK Oil & Gas B.V. notes in the amount of USD425 million at a rate of 6.75% per annum with maturity on 31 December 2026. The remaining debt (the main part of the bank debt and the noteholders debt less the amount of the issue of DTEK Oil & Gas B.V. notes) was converted into new notes of DTEK Energy B.V. in the amount of USD1.65 billion at a rate of 7% per annum and maturity on 31 December 2027. This is one of the largest corporate debt restructurings on the Ukrainian market to date with the approximately USD2 billion total volume of the new notes. DTEK is the largest privately owned vertically-integrated energy company in Ukraine, with efficient enterprises that mine and prepare coal as well as operate on electric power generation and supply markets. AVELLUM team working on this restructuring was led by senior partner Glib Bondar with support from senior associate Anastasiya Voronova and associate Anna Mykhalova.

News

AVELLUM REMAINS THE ONLY UKRAINIAN LAW FIRM RANKED HIGHEST IN CORPORATE FINANCE BY CHAMBERS GLOBAL AND EUROPE 2021

Chambers Global and Europe acknowledges AVELLUM’s “excellent reputation, goal-focused attitude, outstanding track record, ingenuity, and very creative solutions” and recommends AVELLUM in 8 practice areas.

Posted on March 22, 2021
Chambers and Partners, a leading global legal directory, highly ranked AVELLUM in its 2021 Global and European guides. Chambers ranks AVELLUM for 10 consecutive years. According to Chambers Global and Europe 2021, AVELLUM remains the only Ukrainian law firm ranked in the highest Band 1 in all Corporate Finance practices researched by the Chambers: Banking and Finance, Corporate/M&A, and Restructuring and Insolvency. Chambers Global and Europe acknowledges AVELLUM’s “excellent reputation, goal-focused attitude, outstanding track record, ingenuity, and very creative solutions” and recommends AVELLUM in 8 practice areas: Band 1 – Banking and Finance, Corporate/M&A, Restructuring and Insolvency Band 3 – Employment, Tax, and Real Estate Band 4 – Competition/Antitrust and Energy and Natural Resources We are immensely proud of the individual recognition of our lawyers in 2021 rankings: Senior partner Glib Bondar: Band 1 in Banking and Finance and Restructuring and Insolvency Partner Vadim Medvedev: Band 3 in Tax Partner Yuriy Nechayev: Band 2 in Corporate/M&A Managing partner Mykola Stetsenko: Band 1 in Corporate/M&A Partner Maksym Maksymenko: Up and Coming expert in Real Estate Counsel Mykyta Nota: recommended in Competition/Antitrust When estimating the firm’s projects' complexity, Chambers and Partners closely looks into clients' and peers' feedback. We are deeply grateful to our clients for their consistently positive feedback over the years and for entrusting us with the most challenging and sophisticated deals in Ukraine. Chambers and Partners is an independent research company operating across 200 jurisdictions delivering detailed rankings and insight into the world's leading lawyers.

Key contacts

GLIB BONDAR

Senior Partner

gbondar@avellum.com

Team

VADIM MEDVEDEV

Partner

vmedvedev@avellum.com

YURII KRASNOLIUDSKIY

Of-counsel

ykrasnoliudskyi@avellum.com

MARIANA PYLYPENKO

Managing Associate

mveremchuk@avellum.com

ANDRII KROSHKO

Senior Associate

akroshko@avellum.com

TETIANA MYKHAILENKO

Senior Associate

tmykhailenko@avellum.com

NIKITA TIPIKIN-HOLOVKO

Associate

ntipikin-holovko@avellum.com

ELINA KRYHAN

Associate

ekryhan@avellum.com

Practices

Government relations

We represent private companies, non-profit organizations, and the full range of entities and individuals with issues relating to laws, regulations, and government policies.

Practices

Capital markets

Legal advisor to Citigroup Global Markets Limited/

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