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9 October 2019

Sayenko Kharenko advises on up to USD 100 million Eurobond tap issue by Ukrainian railways

Sayenko Kharenko has acted as Ukrainian legal counsel to JP Morgan and Dragon Capital, the joint lead managers of the Eurobond tap issue by Ukrainian Railways, the exclusive state-owned provider of rail transportation services in Ukraine. As a result of the tap issue, Ukrainian Railways raised around USD 100 million of financing funded by the European Bank for Reconstruction of Development as the sole investor in the additional notes. The proceeds of the tap issue will be used for rehabilitation of priority railway lines, predominantly on Trans-European Transport Network corridors in Ukraine.

The additional notes will be consolidated with the existing USD 500 million 8.25% loan participation notes due 2024 placed by Ukrainian Railways earlier this year, where Sayenko Kharenko also acted as Ukrainian advisor to the lead managers.

Sayenko Kharenko’s team was led by counsel Igor Lozenko and partner Anton Korobeynikov. The team included associates Oles Trachuk, Vira Pankiv and Yurii Dmytrenko, and junior associates Vladyslava Mitsai, Oleksandra Maksymenko and Sofia-Maria Kuzminska.


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