AVELLUM acted as a

Ukrainian law counsel to the bondholder group composed of holders of senior

notes (the "Notes") issued by DTEK Finance plc in connection with the

long-term restructuring of the Notes as part of the long-term restructuring of

the debts of the DTEK Energy group.

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 electrical power

generation and supply markets.

The restructuring of

the Notes was implemented through an English scheme of arrangement approved by

the High Court of Justice of England and Wales. According to the terms of the

restructuring sanctioned by the court, two existing issues of USD750 million

notes and USD160 million notes due in 2018, as well as certain other

liabilities of DTEK Group were exchanged for a single new issue of the Notes

due in 2024 with a coupon of 10.75% per annum.

This is one of the

largest corporate debt restructurings on the Ukrainian market to date with the

approximately USD1.2 billion total volume of the new Notes.

The AVELLUM team included Partner Glib Bondar; Counsel

Igor Lozenko; Associates Taras Stadniichuk, Orest Franchuk, and Anastasiya

Voronova.