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30 November 2015

Sayenko Kharenko advised on the second Eurobond issue by Ukraine under the USAID guarantee

Sayenko Kharenko acted as Ukrainian legal counsel to Citigroup, J.P. Morgan and Morgan Stanley, lead managers of the second USD 1 billion Eurobond issue by Ukraine and guaranteed by the United States Agency for International Development (USAID).

U.S. guarantee for the second tranche of Ukrainian Eurobonds worth USD 1 billion became effective on 24 April 2015. The allocated funds would be used for meeting short-term expenditure targets and protection of the public, as well as towards restoring economic stability and conducting necessary economic reforms within the framework of the program agreed with the International Monetary Fund.

In 2014, Sayenko Kharenko advised J.P. Morgan and Morgan Stanley on USD 1 billion Eurobond issue by the State of Ukraine, guaranteed by the United States of America, acting through the USAID. The USD 1 billion guarantee was just the first component of the broader international support package for Ukraine, which has been estimated at approximately USD 27 billion over the following two years.

Sayenko Kharenko’s team working on the transaction included managing associate Yuriy Draganchuk and partner Nazar Chernyavsky.

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