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26 July 2011

Sayenko Kharenko advised on USD 1.25 billion Eurobond issue by the state of Ukraine

Sayenko Kharenko acted as Ukrainian legal counsel to Morgan Stanley, JP Morgan and VTB Capital on USD 1.25 billion Eurobond issue by the state of Ukraine.

JP Morgan, Morgan Stanley and VTB Capital acted as joint lead managers of USD 1.25 billion 6.25% notes due 2016. The originally planned USD 1 billion bond was increased and the yield lowered from the initial guidance due to the oversubscription of the offering by 3 times. The demand for the Eurobond reached around USD 3 billion.

In 2010 Ukraine has successfully re-entered the international Eurobonds market with two successful Eurobonds totaling the record USD 2 billion. Sayenko Kharenko also acted as Ukrainian legal counsel to the lead managers on both issues.

Sayenko Kharenko team for the current transaction included partner Nazar Chernyavsky and lawyers Yuriy Draganchuk and Orest Matviychuk.

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