close

Projects

Key contacts
12 November 2019

Sayenko Kharenko advises on the landmark dual-currency Eurobond issue by Metinvest

Sayenko Kharenko acted as Ukrainian legal counsel to Deutsche Bank, Natixis and UniCredit, joint bookrunners of the dual-currency Eurobond issue by Metinvest consisting of USD 500 million 7.75% tranche and EUR 300 million 5.625% tranche.

The issue of new notes was coupled by a USD 440 million cash tender offer in relation to Metinvest’s existing USD 944 million Eurobonds due 2023.

The availability of new issue proceeds in EUR helped Metinvest to diversify the currency mix and investor base of its debt portfolio. The deal also marked the first dual-currency Eurobond issue by a Ukraine’s private sector corporate. Moreover, the USD tranche with a 10-year tenor is by far the longest debt issue ever secured by Metinvest, while the debut 5-year EUR tranche has the lowest yield ever achieved by any Ukrainian issuer.

Partner Nazar Chernyavsky comments: “We are pleased to remain a trusted adviser of the joint bookrunners on such high-profile financing deals coming from Ukraine. It is an honour to be a part of such compelling and benchmark setting transaction of Metinvest.”

Metinvest Group is a vertically integrated group of steel and mining companies and is the largest in Ukraine and one of the largest CIS producers of iron ore raw materials and steel. 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 Oles Trachuk, Denis Nakonechnyi, Yurii Dmytrenko and junior associates Vladyslava Mitsai, Oleksandra Maksymenko, and Sofiia-Mariia Kuzminska.

Share:

More Projects
Show More