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Asters Acts as Borrower's Local Counsel on USD 500 Million Eurobonds Issue by Ukrzaliznytsia

Asters and Dechert counseled JSC Ukrzaliznytsia, Ukrainian public railway company, under Ukrainian and English law, respectively, on a USD 500 million Eurobonds offering of 8.25% notes due July 2024. This was the first “hard currency” offering from a quasi-sovereign borrower out of Ukraine since 2013 and the lowest coupon for a quasi-sovereign borrower out of Ukraine since 2011.

Asters advisory role implied full legal support under Ukrainian law with respect to transaction documents, related corporate and regulatory matters, and preparation of memoranda and legal opinions.

Asters' project team managed by Senior Partner Armen Khachaturyan included Partner Constantin Solyar (advising on tax law), Senior Associate Olena Nikolenko, Associates Diana Kondratieva, Roman Podzizei, and Iryna Voitova.

 

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Ukrzaliznytsia (Ukrainian Railways) Joint Stock Company is a public railway network operator in Ukraine that controls vast majority of the railroad transportation in the country with a combined total length of track of over 20.000 km, which makes the Ukrainian railroad network the 3rd largest in Europe. Ukrzaliznytsia is also the 5th largest rail passenger transporter and the largest freight transporter in Europe.

Asters is the largest law firm in Ukraine with offices in Kyiv, Washington D.C., Brussels and London. Chambers Europe 2019 recognizes 20 lawyers of Asters – the largest number of the renowned practitioners in a single Ukrainian law firm.

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