Ukraine’s State Road Agency (Ukravtodor) placed seven-year Eurobonds for USD 700 at the yield rate of 6.25% per annum on 17 June 2021.
According to information available to the CFTS portal, the final maturity date of the Eurobonds is 24 June 2028. The Eurobonds are to be redeemed in four equal instalments on 24 December 2026, 24 June 2027, 24 December 2027, and 24 June 2028.
The yield rate of 6.25% per annum is to be paid semi-annually, on 24 June and 24 December of every year, starting from 24 December 2021.
The Eurobonds are guaranteed by the Ukrainian Cabinet of Ministers.
According to Minister of Infrastructure Oleksandr Kubrakov, this is Ukravtodor’s debut placement of government-guaranteed Eurobonds on the London Stock Exchange. He described the yield rate as of the Eurobonds as historically low compared with the yields rates of previous Ukrainian sovereign bonds denominated in U.S. dollars.
"Ukravtodor’s order book received almost USD 2.4 billion during the bond placement, which means that it was three times oversubscribed. This demonstrates that there was significant interest from the global financial market and confirms the market’s confidence in Ukraine as a country and in major infrastructure projects in particular," the minister said.
J.P. Morgan and Dragon Capital were the lead managers of the Eurobond issue, along with Ukreximbank.