Sayenko Kharenko advises on the largest-ever Eurobond issue in Ukraine

Sayenko Kharenko acted as Ukrainian legal counsel to JP Morgan, Morgan Stanley, Troika Dialog and VTB Capital  on USD 2 billion Eurobond issue by the Ministry of Finance of Ukraine.

JP Morgan,Morgan Stanley,Troika Dialog and VTB Capital acted as lead managers of the 9.25% sovereign bonds issue due 2017.

This Eurobond issue is so far the largest-ever in Ukraine. More than 75% of the loan have been placed among major US, UK, and other European investors.

“260 investors’ final order volume constitutes USD 7 billion, though we were planning to leverage only USD 500 million”, – comments Minister of Finance Yuriy Kolobov.

Sayenko Kharenko acted on the majority of Eurobond issues by the State of Ukraine, including USD 1.25 billion issue in 2011 and two successful issues totaling the record USD 2 billion in 2010.

Sayenko Kharenko team involved in the transaction included partner Nazar Chernyavsky and associates Yuriy Draganchuk and Orest Matviychuk.