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Ukraine completes US$600,000,000 tap of outstanding US$2,000,000,000 7.253% notes due 2033

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

On 18 December 2020, Ukraine completed the settlement of a US$600,000,000 tap issuance of its outstanding US$2,000,000,000 7.253% notes due 15 March 2033. The additional issuance was priced at 6.20% yield with re-offer price of 108.914 per cent. The notes have been listed on the Official List and admitted to trading on the regulated market of Euronext Dublin.

Following the completion of the tap issuance, the total outstanding aggregate principal amount of the US$-denominated 7.253% notes due 2033 is US$2,600,000,000.

The investor base of the tap issuance was dominated by asset managers, which accounted for 85% of the notes issued, followed by hedge funds (13%) and insurance and pension funds (2%).

Investors from the the United States, the United Kingdom and continental Europe generated the majority of demand in the tap issuance with 52%, 37% and 10% of the allocations, respectively. Investors from Asia amounted to 1% of the allocations.

The proceeds were transferred to the account of the State Treasury of Ukraine and will be used for general budgetary purposes.

BNP Paribas and Goldman Sachs International acted as Joint Lead Managers. 

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The securities referred to herein may not be sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. Ukraine does not intend to register any of the securities in the United States or to conduct a public offering of the securities in the United States.

This communication does not constitute an offer of the Securities to the public in the United Kingdom. No prospectus has been or will be approved in the United Kingdom in respect of the Securities. This communication is being distributed to and is directed only at (i) persons who are outside the United Kingdom or (ii) persons who are investment professionals within the meaning of Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) and (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”). Any investment activity to which this communication relates will only be available to and will only be engaged with, Relevant Persons. Any person who is not a Relevant Person should not act or rely on this communication or any of its contents.

This announcement 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. It is not intended to be and must not be publicly distributed in or into Ukraine.