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Sayenko Kharenko Advises on Ukrainian Railways USD 300 Million Eurobond Issuance

Sayenko Kharenko Advises on Ukrainian Railways USD 300 Million Eurobond Issuance

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Sayenko Kharenko has advised joint lead managers J.P. Morgan and Dragon Capital on the USD 300 million eurobond issuance by Ukrainian Railways, the exclusive state-owned provider of rail transportation services in Ukraine.

According to Sayenko Kharenko, "the transaction was a loan participation notes structure, with the notes having a 5-year tenor and bearing interest at 7.875% per annum. The proceeds of the issue will be used to refinance the existing facilities of Ukrainian Railways, which is expected to improve its liquidity condition and rebalance its debt portfolio."

Sayenko Kharenko’s team included Partners Igor Lozenko and Nazar Chernyavsky, Associates Oles Trachuk, Vladyslava Mitsai, and Sofiia-Mariia Kuzminska, and Junior Associate Oleksandr Motin.

Sayenko Kharenko did not reply to our inquiry on the matter.

Editor's note: After this article was published, CEE Legal Matters learned that Asters, working with Dechert, has advised JSC Ukrzaliznytsia, the Ukrainian public railway company, on the deal. The firm's team included Senior Partner Armen Khachaturyan, Partner Constantin Solyar, and Senior Associates Olena Nikolenko and Roman Podzizei.

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