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AVELLUM advises on Ukraine’s USD2 billion Eurobond issue

December 2018 - Finance. Legal Developments by Avellum.

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AVELLUM acted as the Ukrainian legal counsel to the Ministry of Finance of Ukraine on the USD2 billion sovereign Eurobond issue consisting of two tranches with 5.5 and 10-year tenor. J.P. Morgan Securities, Goldman Sachs, BNP Paribas, and Citigroup acted as joint lead managers on the transaction.

Part of the Eurobond proceeds was applied to redeem Ukraine’s USD725 million zero-coupon notes due in 2019, an issue that AVELLUM had also advised on earlier in 2018. The remainder was allocated to the general budgetary purposes.

This new notes issue, together with other official creditor funds, will help the country to ensure fiscal liquidity and macroeconomic stability. For AVELLUM, the transaction was yet another addition to our broad public sector finance potfolio.

The AVELLUM team was led by senior partner Glib Bondar with support from counsel Taras Dmukhovskyy, tax counsel Vadim Medvedev, and associates Oleg Krainskyi, Anastasiya Voronova, Orest Franchuk, Anna Mykhalova, Anna Kalabska, Yelyzaveta Kravtsova, and Oles Bidnoshyia.