12:19 07.09.2020

Sayenko Kharenko advised on USD 329 million Eurobond tap issue by Ukraine

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Sayenko Kharenko acted as Ukrainian legal counsel to J.P. Morgan, the initial purchaser and bookrunner of the USD 329 million Eurobond tap issue by Ukraine. The additional notes were consolidated with the outstanding USD 1.36 billion 7.75 per cent notes that matured on 1 September 2020.

The proceeds of the transaction were used to settle an open-market repurchase of Ukraine’s GDP-linked Securities which was announced earlier in August. As a result, Ukraine successfully completed its first ever liability management exercise involving government derivatives as envisaged by the state debt management strategy.

Sayenko Kharenko’s team included partners Igor Lozenko and Nazar Chernyavsky and associates Oles Trachuk and Vladyslava Mitsai.

In the recent years, Sayenko Kharenko has been engaged in all debt offerings and liability management exercises by Ukrainian banks; most cross-border capital markets transactions by Ukrainian corporate and state-owned issuers; and all sovereign foreign capital markets deals.

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