Ukraine prices US$500 million tap of outstanding 2029 Eurobonds

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 has today priced a US$500 million tap issue of its outstanding US$1.25bn 6.876% Notes due 21 May 2029. The additional issuance was priced at 6.30% yield with re-offer price of 103.493 per cent. The final orderbook of US$1.7bn allowed to achieve tightening of 32.5 bps from the initial guidance and price the offering 57.5 bps tighter comparing to the yield achieved on the original US$ 1.25bn issue completed in April earlier this year.

BNP Paribas and Goldman Sachs International acted as Joint Lead Managers. Settlement of the additionally issued Eurobonds is expected to take place on July 27, 2021.

The proceeds will be used for general budgetary purposes.

Sergii Marchenko, Minister of Finance of Ukraine, commented: "The success of this intraday reopening transaction marks continuous strong support of Ukraine from the international investor community. Favorable markets allowed us to gradually fulfill our borrowing plans for this year before the period of summer break. We limited the size of the transaction as we remain committed to our strategy of covering most of our external borrowing needs with the concessional financing".

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 these 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, as amended (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 document 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.