Practices

Capital markets

12

Bln USD
Total worth of transactions in capital markets since 2016

Overview

AVELLUM team is well-known for its top tier position in capital markets transactions involving Ukrainian issuers. Among our established clients are both key issuers that supply most of the capital markets offerings out of Ukraine (such as the Ministry of Finance of Ukraine, as well as many Ukrainian industrial blue chips), as well as newcomers seeking a reliable legal advice on how to do their market entries.

We were involved with many among the first-of-their-kind debt and equity capital markets transactions out of Ukraine, including Eurobond offerings and IPOs of Ukrainian issuers. We can safely say that we have done most of the debt capital market deals on the market in recent years. As a result, we gathered an in-depth knowledge of the commercial rationale and the legal and regulatory framework shaping various structures employed by Ukrainian issuers. Combined with the efficiency, agility and strive for excellence that shape our approach among all our practices, this makes us the market leader and the go-to legal advisor for all matters capital markets out of Ukraine.

Heading

Main focuses

Today our debt capital markets practice ranges from “plain vanilla” bond issues, to various structured debt products to public and private equity offerings.

As part of our capital markets practice, we are also regularly involved with various liability management and restructuring exercises.

Apart from cross-border transactions, we have a notable standing with domestic debt and equity capital markets in Ukraine, doing a sizable part of advisory work for both domestic and foreign clients, providing transactional support and taking part in various initiatives to develop both legal rules for different parts of the domestic market.

Key experience

Consensual deferral of external debts worth over USD25 billion

25

Bln USD

Ukrainian legal counsel to (i) the Ministry of Finance of Ukraine, (ii) Private Joint Stock Company “National Power Company “Ukrenergo” (“Ukrenergo”), and (iii) the State Road Agency of Ukraine (“Ukravtodor”)

Debut Eurobond issue of 6.25% guaranteed notes due 2028 with a benefit of the sovereign guarantee

19

Min USD

Legal advisor to Ukravtodor and Goldman Sachs

Issue of EUR-denominated notes ​ with a 7-year tenor​

1

Bln EUR

Legal advisor to the Ministry of Finance of Ukraine

Debut bond issue of Ukravtodor at the international capital markets with the state guarantee

700

Mln USD

Legal advisor to the Ministry of Finance of Ukraine and Ukravtodor

Debt restructuring under the two inter-conditional English schemes of arrangement for DTEK Energy B.V. and DTEK Finance PLC

2

Bln USD

Legal advisor to DTEK Group

Eurobond issue of 8.375% guaranteed notes due 2026, admitted to listing on the Luxembourg Stock Exchange

300

Min USD

Legal advisor to Interpipe Holdings Plc

Notes issue with an 8-year maturity priced at 6.875% annual yield

1.25

Bln USD

Legal advisor to the Ministry of Finance of Ukraine

Tap issue of Ukraine’s outstanding USD2 billion 7.253% notes due 2033

2

Bln USD

Legal advisor to the Ministry of Finance of Ukraine

Eurobond cash tender offer

316

Mln USD

Legal advisor to Ukreximbank and Goldman Sachs International

Show all key experience

Related materials

Legal alerts

UKRAINE ADOPTS CAPITAL MARKETS LAW

On 19 June 2020, the Verkhovna Rada of Ukraine adopted Law of Ukraine No. 738-IX “On Amendments to Certain Legislative Acts of Ukraine Regarding Liberalisation of Attracting of Investments and Introduction of New Financial Instruments” (“Law”).

Posted on July 5, 2022

Newsroom

AVELLUM LEADS IN IFLR 1000 IN 2022

The recently released edition of IFLR1000 ranks AVELLUM’s Corporate and Finance practices among the best in Ukraine for 9 consecutive years.

Posted on July 5, 2022

Newsroom

AVELLUM ADVISES ON LAUNCH OF AMERICAN UNIVERSITY KYIV

AVELLUM provided full legal support to the managing partners of American University Kyiv in connection with its launch.

Posted on July 5, 2022

Newsroom

AVELLUM ACTS FOR UKRAINE ON CONSENSUAL DEFERRAL OF EXTERNAL DEBTS WORTH OVER USD25 BILLION

AVELLUM acted as the Ukrainian legal counsel to (i) the Ministry of Finance of Ukraine, (ii) Private Joint Stock Company “National Power Company “Ukrenergo” (“Ukrenergo”), and (iii) the State Road Agency of Ukraine (“Ukravtodor”).

Posted on July 5, 2022

Newsroom

AVELLUM IS HIGHLY RECOMMENDED BY CHAMBERS GLOBAL 2022

Chambers and Partners, a leading global legal directory, highly ranked AVELLUM in its 2022 Global guide. Chambers ranks AVELLUM for 11 consecutive years. Chambers Global acknowledges our “outstanding track record, a distinguished team, and complex and high-stakes matters” and recommends AVELLUM in 3 practice areas: Band 1 – Banking and Finance  Band 1 – Corporate/M&A Band 3 – Dispute […]

Posted on July 5, 2022
AVELLUM IS HIGHLY RECOMMENDED BY CHAMBERS GLOBAL 2022

Publications

FOR FOREIGN INVESTORS: PECULIARITIES OF SHARE TRANSFER IN UKRAINE

As a rule, transactions with securities, including shares in joint stock companies, require the engagement of an investment firm, in particular a securities broker. At the same time, the Law of Ukraine “On Capital Markets and Organised Commodity Markets”, which entered into force on 1 July 2021, provides for several exceptions to this rule. Indeed, […]

Posted on July 5, 2022

Key contacts

GLIB BONDAR

Senior Partner

gbondar@avellum.com

Team

Capital markets

Practices

TETIANA MYKHAILENKO

Senior Associate

tmykhailenko@avellum.com

MARIANA VEREMCHUK

Senior Associate

mveremchuk@avellum.com

YAROSLAV PAVLIUK

Associate

ypavliuk@avellum.com

Industry

Consumer goods

We deeply understand the critical intricacies of being in the consumer goods business, the specifics of regulatory issues, timing, and business planning.

Practice

Finance

Our pre-eminent finance practice is well-known in the market for its cutting-edge expertise and exemplary service.

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