AVELLUM advised on Ukraine’s USD 3 billion sovereign bond issue and tender offer

AVELLUM acted as Ukrainian legal advisor to the Ministry of Finance of Ukraine on its USD 3 billion, 15-year, 7.375% Eurobond issue which was combined with the cash tender offer to the holders of the outstanding Eurobonds due 2019 and 2020. BNP Paribas, Goldman Sachs and J.P. Morgan Securities plc acted as joint lead managers on the transaction.

A portion of the net proceeds of the new issue were applied by Ukraine to fund the repurchase of  USD 1.16 billion of its 2019 Eurobonds and USD 415 million of its 2020 Eurobonds. The remaining net proceeds of the new issue will be used for general budgetary purposes.

The AVELLUM team was led by senior partner Glib Bondar with significant support from senior associate Taras Dmukhovskyy, tax counsel Vadim Medvedev, and associates Anna Melnychuk, Pavlo Shevchenko, Orest Franchuk, Anastasia Voronova, Oleg Krainskyi and Vladyslav Aleksandrov.

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