Avellum Partners has advised the Ministry of Finance of Ukraine on the December 8, 2015 issue of USD 1 billion 1.847% guaranteed notes due 2020 fully guaranteed as to principal and interest by the United States of America, acting by and through the United States Agency for International Development. White & Case acted as the foreign law counsel of the Ministry of Finance of Ukraine. Arnold & Porter and Sayenko Kharenko acted as legal counsels to lead managers Citigroup, J.P. Morgan, and Morgan Stanley.
The U.S. guarantee for this, the second tranche of Ukrainian Eurobonds worth USD 1 billion, became effective on April 24, 2015. According to a press release by Sayenko Kharenko — which also advised on the previous 2014 tranche — “the allocated funds would be used for meeting short-term expenditure targets and protection of the public, as well as towards restoring economic stability and conducting necessary economic reforms within the framework of the program agreed with the International Monetary Fund.”
The Avellum Partners team was led by Partner Glib Bondar, with support from Senior Associate Artem Shyrkozhukhov and Associates Taras Dmukhovskyy, Orest Franchuk, and Pavlo Shevchenko.
The Sayenko Kharenko team working on the transaction included Partner Nazar Chernyavsky and Managing Associate Yuriy Draganchuk.
