Sayenko Kharenko acted as Ukrainian legal counsel to the lead managers of the debut USD 50 million Eurobond placement by Agroton Public Limited.
UBS Investment Bank, VTB Capital, Dragon Capital, Jaspen Capital Partners and Bank Zachodni WBK acted as the lead managers of 3 year Eurobond issue with a coupon rate of 12.5%. The offering was successfully closed despite fluctuating market conditions which caused many other issuers to suspend their transaction.
The Eurobond proceeds are reported to be used for expansion of the Agroton’s existing land bank, acquisition and construction of elevator storage facilities and acquisition of additional agricultural machinery as well as for general corporate purposes of the company.
Sayenko Kharenko team is highly reputed for diversified experience of advising Ukrainian agricultural companies. Previously the firm has advised on: USD 250 million exchange offer and USD 330 million Eurobond issue by MHP S.A., the holding company of Myronivsky Hliboproduct; more than 90 million private placement by Mriya Agro-Holding; more than USD 370 million IPO of Myronivsky Hliboproduct; the establishment of global depositary receipts program and private placement of shares by Creativ Group; USD 42 million placement of 20% of shares, establishing a global depositary receipts program and listing on PFTS and the Frankfurt Stock Exchange by UkrRos.
Sayenko Kharenko team for the current transaction included partner Nazar Chernyavsky and lawyers Igor Lozenko, Andriy Finogin, Orest Matviychuk and Olga Kovernyk.