Ukrainian Railways

Eurobond 2024

In July 2019, JSC “Ukrainian railways” completed the borrowing from the international capital market by issuing loan participation notes (LPNs) for the principal amount of $ 500,000,000 with a yield rate of 8.25% and a maturity in 2024. 175 investors from the United Kingdom, Continental Europe, USA and Asia have expressed their interest and made their offers to buy securities. Demand for the purchase of Eurobonds exceeded the company's supply by 5 times and reached $ 2.5 billion.

Given the positive market environment and investor interest, in September 2019, JSC “Ukrainian railways” completed the tap issuance of LPNs with a principal loan amount of almost $ 95 million. The borrowing is structured as a tap issuance to the original issue of loan participation notes. Accordingly, the terms of the tap issuance are similar to the original issue of the loan acquired in July 2019. At the same time, the company received an issue premium of about $ 3.6 million by exceeding the market value of the bonds over their nominal value.

Eurobond issue details