09:54 29.10.2021

Ukrenergo preparing to place five-year 'green' eurobonds in dollars

1 min read
Ukrenergo preparing to place five-year 'green' eurobonds in dollars

Ukrenergo is preparing to place "green" eurobonds in dollars, a source in banking circles told Interfax.

BNP Paribas, Deutsche Bank, Goldman Sachs and Ukreximbank were appointed organizers of the placement.

Conference calls with investors within preparation for the deal will begin on October 28.

Earlier in October, the Cabinet of Ministers of Ukraine provided Ukrenergo with state guarantees in the amount of up to UAH 22.8 billion ($ 865 million at the exchange rate at the time of the resolution) for issuing eurobonds to pay off debts for electricity produced from renewable energy sources (RES).

According to the document, the Ministry of Energy of Ukraine together with Ukrenergo and Guaranteed Buyer state enterprise, one of the participants in the wholesale electricity market, must ensure that the borrowed funds are directed to pay off the debt arising under contracts for the sale and purchase of electricity at a feed-in tariff, signed between Guaranteed Buyer and RES generation.

Ukrenergo expects to ensure full repayment of debts to producers of "green" electricity by issuing eurobonds and its own funds, head of the company board Volodymyr Kudrytsky told Interfax-Ukraine.

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