Sayenko Kharenko advised on USD 500 million DTEK debut Eurobond issue

Sayenko Kharenko acted as a Ukrainian legal counsel to ING, The Royal Bank of Scotland and Erste Group Bank AG, the deal managers of USD 500 million Eurobond placement by DTEK (part of System Capital Management).

The debut Eurobonds were issued for the period of 5 years with a 9.5 per cent coupon. Investors showed a considerable interest in the issue, oversubscribing the final order book almost four times. DTEK Eurobond issue is expected to increase the interest in the entire Ukrainian energy industry.

DTEK Holdings B.V. (“DTEK”), the issuer’s parent company, is the leading private vertically-integrated fuel and energy company in Ukraine operating in three business segments: coal production, power generation and distribution. DTEK is a part of the network of holdings of System Capital Management that also includes businesses in the metals, financial and telecommunication sectors.

Sayenko Kharenko team included Michael Kharenko, Nazar Chernyavsky, Igor Lozenko and Olena Pidgorna.