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AVELLUM ADVISES ON SUCCESSFUL KERNEL AND NAFTOGAZ EUROBOND OFFERINGS
Kyiv, Ukraine, Tue, Nov 26, 2019
AVELLUM is proud to announce that it acted as the Ukrainian legal counsel on two more successful Eurobond offerings from Ukraine.
USD300 million Eurobond offering by Kernel
AVELLUM acted as the Ukrainian legal counsel to Kernel Holding S.A. (“Kernel”) in connection with an offering of USD300 million 6.5 % guaranteed notes due 2024.
ING Bank N.V., London Branch, and J.P. Morgan Securities plc acted as joint lead managers of the issue.
Kernel is the world’s leading and the largest in Ukraine producer and exporter of sunflower oil, and major supplier of agricultural products from the Black Sea region to world markets. Kernel exports its products to more than 60 countries. Since November 2007, the shares of the company are traded on the Warsaw Stock Exchange (WSE).
In 2017 AVELLUM advised Kernel on its debut offering of USD500 million 8.75% guaranteed notes due 2022.
USD500 million Eurobond offering by Naftogaz
AVELLUM acted as the Ukrainian legal counsel to Citigroup Global Markets Limited as lead manager in connection with an offering by Naftogaz of Ukraine (“Naftogaz”) of USD500 million 7.625% loan participation notes due 2026.
Naftogaz is a vertically integrated oil and gas company engaged in full cycle of operations in gas and oil field exploration and development, production and exploratory drilling, gas and oil transport and storage, supply of natural gas and LPG to consumers.
In July 2019 AVELLUM advised the joint lead managers on EUR600 million and USD335 million Eurobond offering by Naftogaz.
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The AVELLUM team working on these transactions* was led by senior partner Glib Bondar with support from associates Anastasiya Voronova, Oleg Krainskyi, Orest Franchuk, Anna Mikhalova, and Mariana Veremchuk. Partner Vadim Medvedev and associates Anton Zaderyholova and Yelyzaveta Kravtsova provided support on tax matters of the transactions.