Featured Galleries USUBC COLLECTION OF OVER 160 UKRAINE HISTORIC NEWS PHOTOGRAPHS 1918-1997
Holodomor Posters
Sayenko Kharenko acted as Ukrainian legal counsel on the final restructuring of sovereign-guaranteed debt of Ukravtodor
Sayenko Kharenko, Kyiv, Ukraine
Thu, June 2, 2016
Sayenko Kharenko acted as Ukrainian legal counsel to VTB Capital in the restructuring of a sovereign-guaranteed loan by VTB Capital to the State Road Agency of Ukraine (Ukravtodor) with an outstanding principal amount of USD 100.8 million.
Similarly to restructuring transactions of Ukravtodor completed earlier this year, the loan has been converted into sovereign Eurobonds and GDP-linked securities with 75 per cent of the outstanding loan amount exchanged for Ukraine’s 7.75 per cent senior notes due 2019, and 25 per cent of the outstanding loan amount exchanged for Ukraine’s GDP-linked securities.
Being the final step in restructuring of the sovereign guaranteed debt, this transaction represents one of the series of successful restructuring exercises conducted in accordance with the requirements of the IMF’s Extended Fund Facility. According to the Ministry of Finance, Ukravtodor deal allowed Ukraine to reduce its debt burden, which shall contribute to the macroeconomic stability and economic recovery.
Sayenko Kharenko team advising on the transaction included counsel Anton Korobeynikov and associate Taras Shyb, and was led by partner Nazar Chernyavsky.
___________________________
Sayenko Kharenko enjoys global reputation as a leading Ukrainian law firm with an internationally oriented full-service practice. The firm’s leading market position builds on continuous excellence of its highly specialized practice teams. During the past two years, Sayenko Kharenko collected three of the most prestigious professional excellence country awards, including Law Firm of the Year by IFLR European Awards 2015, Who’s Who Legal European Awards 2015 and Chambers Europe Award for Excellence 2015. Most recently, Sayenko Kharenko was crowned Ukraine Law Firm of the Year by Who's Who Legal 2016, and shortlisted for Russia, Ukraine & the CIS category by The Lawyer European Awards 2016 and Ukraine Law Firm of the Year category by Chambers Europe Awards 2016.
To learn more about Sayenko Kharenko expertise and experience, please contact
Oleksandra Ananyeva
PR Manager
T: +380 44 499 60 00
