News and developments
Sayenko Kharenko advises on the debut EUR 325 million “green bond” issue by Ukrainian business
Sayenko Kharenko acted as Ukrainian legal counsel to Raiffeisen Bank International and Renaissance Capital, joint lead managers of the EUR 325 million Eurobond issue by DTEK Renewables, which marks the first-ever issue of notes under the green bond framework by a business from Ukraine. A green bond is a new type of debt instrument designed to raise capital for environment-friendly initiatives.
The notes issued by DTEK Renewables have a 5-year tenor and bear interest at 8.5% per annum. The proceeds of the transaction will be used to sustain the group’s vast portfolio of renewable energy projects and its future extension. Each green initiative will be implemented in accordance with public reporting requirements to ensure its transparency before investors and the public.
Partner Nazar Chernyavsky comments: “It is an honour to be a part of this ground-breaking transaction which is truly innovative and first-of-a-kind for the Ukrainian market. We hope that this Eurobond issue paves the way for increased investment in Ukrainian “green” energy and sustainable development projects.”
DTEK Renewables is the largest “green” energy producer in Ukraine with 950MW of installed capacity.
Sayenko Kharenko’s team was led by counsel Igor Lozenko and included associates Oles Trachuk, Denis Nakonechyi, and Yurii Dmytrenko and junior associates Vladyslava Mitsai, Oleksandra Maksymenko and Sofia-Maria Kuzminska.