Sayenko Kharenko advised on the largest refinancing by Ukrainian corporate

Sayenko Kharenko advised on the largest refinancing by
Ukrainian corporate

Sayenko
Kharenko acted as Ukrainian legal counsel to Deutsche Bank, ING, Natixis and
UniCredit, joint bookrunners of the USD 1.592 million Eurobond issue by
Metinvest B.V., a holding company of the largest in Ukraine and one of the
largest CIS producers of iron ore raw materials and steel.

Sayenko Kharenko advised on the largest refinancing by
Ukrainian corporate

Sayenko
Kharenko acted as Ukrainian legal counsel to Deutsche Bank, ING, Natixis and
UniCredit, joint bookrunners of the USD 1.592 million Eurobond issue by
Metinvest B.V., a holding company of the largest in Ukraine and one of the
largest CIS producers of iron ore raw materials and steel.

The
issue of Eurobonds was divided into two tranches: USD 944.5 million bonds due
2023 and USD 647.7 million bonds due 2026. The issue was coupled with the cash
tender offer and consent solicitation in relation to the Metinvest existing USD
1.2 billion Eurobonds due 2021 of which USD 117 million remain outstanding
following the tender offer.

For
Metinvest, it was the largest bond issue with the most favourable parameters,
as the new bonds have the lowest coupon and the longest maturity. With the
approximately USD 1.6 billion total volume of the new bonds, it is the most
sizeable Eurobond issuance for a privately-owned Ukrainian corporate.

Partner
Nazar Chernyavsky comments: “The deal is the largest refinancing in capital
markets for the Ukrainian corporate sector so far, which makes it
first-of-a-kind, and I am pleased that we at Sayenko Kharenko have also
contributed to its success.”

Metinvest
Group is a vertically integrated group of steel and mining companies that
manages every link of the value chain, from mining and processing iron ore and
coal to making and selling semi-finished and finished steel products. It has
steel and mining production facilities in Ukraine, EU and the US, as well as a
sales network covering all key global markets.

Sayenko Kharenko’s team was led by counsel Igor Lozenko and included associates Dmytro Vasylyna, Denis Nakonechnyi, Yurii Dmytrenko and junior associate Oles Trachuk under the supervision of partner Nazar Chernyavsky.

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