Sayenko Kharenko advises on landmark USD 500 million Eurobond issue by Ukrainian Railways

Sayenko Kharenko has acted as Ukrainian legal counsel to JP Morgan and Dragon Capital, the joint lead managers of a USD 500 million Eurobond issue by Ukrainian Railways, the exclusive state-owned provider of rail transportation services in Ukraine.

The transaction was a loan participation notes structure with the notes having a 5-year tenor and bearing interest at 8.25 % per annum. For Ukrainian Railways, this was the first Eurobond placement since the company entered global capital markets in 2013.

Partner Anton Korobeynikov commented: “We are delighted to have been part of the successful return of Ukrainian Railways to global capital markets. This deal was driven by enormous effort from all the parties involved, which made it a tremendously challenging and fascinating experience for our capital markets team.”

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