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

NOT FOR PUBLIC RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

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".

 

The information contained in this press release is for information purposes only and does not purport to be full or complete. No reliance may be placed for any purpose on the information contained in this press release or its accuracy or completeness. This press release does not contain or constitute an offer of, or the solicitation of an offer to buy securities to any person in the United States or in any jurisdiction to whom or in which such offer or solicitation is unlawful, and persons into whose possession this press release comes should inform themselves about, and observe, any such restrictions. The securities referred to herein may not be offered or sold in the United States absent registration under the US Securities Act of 1933, as amended (the "Securities Act"), or another exemption from, or in a transaction not subject to, the registration requirements of the Securities Act.

Subject to certain exceptions, the securities referred to herein may not be offered or sold in Australia, Canada or Japan or to, or for the account or benefit of, any national, resident or citizen of Australia, Canada or Japan. The offer and sale of the securities referred to herein has not been and will not be registered under the Securities Act or under the applicable securities laws of Australia, Canada or Japan. There will be no public offer of the securities in the United States.

This press release is only being distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) to investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) or (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as relevant persons). The securities are only available to, and any invitation, offer or agreement to subscribe, purchase or otherwise acquire such securities will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this press release or any of its contents.

This press release is not an advertisement of securities in Ukraine and is not an offer or invitation to, or solicitation of, any such circulation, distribution, placement, sale, purchase or other transfer of the securities in the territory of Ukraine.