Sayenko Kharenko advised J.P. Morgan on successful Eurobonds consent solicitation by Vodafone Ukraine

Sayenko Kharenko acted as Ukrainian legal counsel to J.P. Morgan, the solicitation agent, in connection with the successful consent solicitation by Vodafone Ukraine, a leading Ukrainian telecommunications company.

The consents were solicited from the noteholders of Vodafone Ukraine’s outstanding USD 500 million Loan Participation Notes due 2025 and the restructuring proposal was supported by noteholders holding in excess of 95% of the principal amount of the Notes. The resulting amendments to the notes documentation extended the notes’ maturity date to February 2027, provided for an increased coupon level, and enabled the redemption of principal under the notes in the amount of USD 99.88 million. Additionally, noteholders were granted a put right at par in the event of any relevant amendment to or termination of the applicable Ukrainian currency control restrictions that preclude Vodafone Ukraine from making further prepayments under the notes.

Sayenko Kharenko’s team included Anton Korobeynikov, Igor Lozenko, Oles Trachuk, Yevgen Koval and Danylo Dashko.