Dragon Capital investment company and J. P. Morgan acted as joint bookrunners and joint lead managers for “Railways” in the placement of Eurobonds in the amount of $ 500 million with a yield of 8.25% and a maturity date of July 2024.
This was reported by the press service of the Dragon Capital.
“The order book reached a peak at roughly $2.5 billion (with a 5-fold oversubscription) when the number of submitted applications from more than 175 investors. This transaction is the first placing in “hard currency” for quasi-sovereign borrowers from Ukraine in 2013, as well as the issue with the lowest coupon among quasi-sovereign borrowers from Ukraine in 2011″, – is spoken in the message.
It is also noted that the proceeds from the Eurobond issue will be used to repay “Ukrzaliznytsya” the second part of the bridge loan “Oschadbank” and an interest-free loan from “Finpro” in August 2019, depreciation and amortization Eurobonds 2016 September 2019, for partial repayment of debts “Ukrzaliznytsi” in foreign currency and on capital expenditures and financing working capital.
July 2, “Railways” has completed the procedure of pricing of Eurobonds worth $500 million, which will be posted for a period until 2024 under 8,25% annual.