Ukraine Announces Pricing of New 12-Year U.S.$-Denominated Eurobond and Results of Switch Tender Offer for its 2021 and 2022 Notes

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Ukraine announces the pricing of its new U.S.$2,000,000,000 7.253% senior notes due 2033, as well as the results of a switch tender offer in relation to its outstanding U.S.$-denominated 7.75% senior notes due 2021 and U.S.$-denominated 7.75% senior notes due 2022. The new issue is expected to be rated B by Standard & Poor’s and B by Fitch. Settlement of the new issue is expected to take place on 30 July 2020.

The proceeds of the new issue will be used to purchase Ukraine’s existing senior notes due 2021 and 2022 tendered in connection with the switch tender offer and for general budgetary purposes. The Final Maximum Acceptance Price (as defined in the switch tender offer memorandum) for the switch tender offer is U.S.$846,150,610.00.

The Minister of Finance of Ukraine, Sergii Marchenko, commented: “Notwithstanding turbulent times for the EM countries, Ukraine continues to implement its debt management strategy with proactive management of upcoming maturities to reduce refinancing risks. This transaction complements our efforts to maximize the amount of concessional financing available to Ukraine in order to ensure a sufficient liquidity buffer in this current environment".

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