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AEQUO Advised NJSC Naftogaz of Ukraine on EUR 600 million and USD 335 million Eurobonds Issue

29/ 07/ 2019

AEQUO has acted as a Ukrainian law counsel to NJSC Naftogaz of Ukraine (“Naftogaz”) on Ukrainian law matters in connection with the landmark Eurobonds issue. Freshfields Bruckhaus Deringer LLP has acted as a counsel to Naftogaz on English law matters.  Naftogaz has placed 5-year bonds in the amount of EUR 600 million at 7.125% and 3-year bonds in the amount of USD 335 million at 7.375%. The deal has become the first placement of Eurobonds by Naftogaz since 2009, as well as the first dual-tranche issue of bonds by Naftogaz in Euros and US dollars.

According to the Press Service of the company, “the issue was approximately 2.5 times oversubscribed. Over 120 investors from the UK, other EU Member States, Asia, South America have purchased the bonds.”.

“The level of interest generated by the issue shows investor confidence in Ukraine and is a recognition of our efforts to make Naftogaz a transparent and reliable company. Having raised the funds on attractive terms, Naftogaz is now better placed to prepare for the next winter season by accumulating gas volumes in the underground gas storages”, said Andriy Kobolyev, CEO of Naftogaz.

AEQUO’s team provided comprehensive legal support in all matters of Ukrainian law, including issue structuring, drafting and negotiating the transaction documentation, preparing the Offering Circular, providing legal support in the course of obtaining regulatory approvals, issued legal opinion in respect of the transaction and assisted with completion of the Eurobond issue.

“We are grateful to NJSC Naftogaz of Ukraine for the opportunity to be a part of this transaction, which is significant not only for the company but also for Ukraine as a whole,” comments Yulia Kyrpa, AEQUO’s, Banking & Finance and Capital Markets partner, “Our team is pleased to have been able to contribute to the success of this challenging and complex transaction. “

AEQUO’s project team worked under the supervision of Yulia Kyrpa, partner, and included Bohdan Dmukhovskyy, Myroslava Savchuk, counsels, Oksana Krasnokutskaya, of counsel, Vasyl Mishchenko and Mykhaylo Soroka, senior associates, Glib Bukharin, Viktor Komziuk, Olesia Mashtaler, Taras Shmyh and Anna Konovalova, associates.

About the firm

AEQUO is an advanced industry-focused Ukrainian law firm made up of highly qualified, internationally recommended lawyers who work proactively to help their clients reach their business goals. Backed up by solid industry expertise and a thorough understanding of business we develop innovative strategies and provide efficient solutions to the most complex and challenging matters.

AEQUO provides integrated legal support in areas such as antitrust and competition, banking and finance law, intellectual property, corporate and commercial law, mergers and acquisitions, taxation, litigation and international arbitration, and capital markets.

The list of AEQUO’s representative clients includes leading Ukrainian and international companies and organizations, such as Agroprosperis, Apax Partners, Apollo, Bunge, DuPont, EBRD, European Commission, Google, Inditex Group, NCH Capital, Pioneer Hi-Bred International, Samsung Electronics, Sandvik, Synthon, Tetra Laval, Ukrainian Redevelopment Fund, UniCredit Group, Vodafone Ukraine etc.

AEQUO has been named the Most Innovative Law Firm of the Year in Ukraine by IFLR Europe Awards 2018, Law Firm of the Year in Russia, Ukraine and the CIS by The Lawyer European Awards 2017 and one of the most innovative law firms in Europe according to the FT Innovative Lawyers 2015-2018.

For additional information please contact Tatiana Bogila

Bogila@aequo.ua, +380 44 490 91 00 

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