Sayenko Kharenko advised on the largest refinancing by

Ukrainian corporate

Sayenko

Kharenko acted as Ukrainian legal counsel to Deutsche Bank, ING, Natixis and

UniCredit, joint bookrunners of the USD 1.592 million Eurobond issue by

Metinvest B.V., a holding company of the largest in Ukraine and one of the

largest CIS producers of iron ore raw materials and steel.

Sayenko Kharenko advised on the largest refinancing by

Ukrainian corporate

Sayenko

Kharenko acted as Ukrainian legal counsel to Deutsche Bank, ING, Natixis and

UniCredit, joint bookrunners of the USD 1.592 million Eurobond issue by

Metinvest B.V., a holding company of the largest in Ukraine and one of the

largest CIS producers of iron ore raw materials and steel.

The

issue of Eurobonds was divided into two tranches: USD 944.5 million bonds due

2023 and USD 647.7 million bonds due 2026. The issue was coupled with the cash

tender offer and consent solicitation in relation to the Metinvest existing USD

1.2 billion Eurobonds due 2021 of which USD 117 million remain outstanding

following the tender offer.

For

Metinvest, it was the largest bond issue with the most favourable parameters,

as the new bonds have the lowest coupon and the longest maturity. With the

approximately USD 1.6 billion total volume of the new bonds, it is the most

sizeable Eurobond issuance for a privately-owned Ukrainian corporate.

Partner

Nazar Chernyavsky comments: “The deal is the largest refinancing in capital

markets for the Ukrainian corporate sector so far, which makes it

first-of-a-kind, and I am pleased that we at Sayenko Kharenko have also

contributed to its success.”

Metinvest

Group is a vertically integrated group of steel and mining companies that

manages every link of the value chain, from mining and processing iron ore and

coal to making and selling semi-finished and finished steel products. It has

steel and mining production facilities in Ukraine, EU and the US, as well as a

sales network covering all key global markets.

Sayenko Kharenko’s team was led by counsel Igor Lozenko and included associates Dmytro Vasylyna, Denis Nakonechnyi, Yurii Dmytrenko and junior associate Oles Trachuk under the supervision of partner Nazar Chernyavsky.

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