AVELLUM wins Deal of the Year at IFLR Europe Awards 2025

AVELLUM has been honoured with a prestigious award at the IFLR Europe Awards 2025. The firm received the “Deal of the Year: Debt and Equity-Linked” award for Ukraine’s nearly USD20.5 billion sovereign bond restructuring.

This landmark transaction marks a critical step in Ukraine’s efforts to ensure long-term debt sustainability, preserve macroeconomic stability, and secure essential funding for national defence amid russia’s ongoing war against Ukraine.

The transaction, in which Rothschild & Co acted as financial advisor, White & Case as international legal counsel and AVELLUM as Ukrainian counsel to the Ministry of Finance of Ukraine, involved a joint consent solicitation and the exchange of 13 series of Ukraine’s outstanding Eurobonds and state-guaranteed Eurobonds of the State Agency for Restoration and Development of Infrastructure into 8 new series of Eurobonds. You can find more details about the transaction in our press release.

Glib Bondar, senior partner at AVELLUM, comments: “We are proud that this landmark transaction has been recognised by IFLR. The award highlights not only the scale and complexity of the restructuring, but also its impact — a substantial reduction in Ukraine’s commercial debt and a reaffirmation of the country’s commitment to its fiscal obligations and cooperation with investors during wartime. We are grateful to the Ministry of Finance of Ukraine and our international partners for their trust and collaboration.”

Congratulations to the AVELLUM team led by senior partner Glib Bondar, with support from managing associate Mariana Pylypenko and of-counsel Yurii Krasnoliudskyi, associates Andrii Kroshko, Elina Kryhan, Nikita Tipikin-Holovko, and Olha Harhola. Partner Anton Zaderyholova provided tax support on the transaction.