NEWS (November 27, 2019)

AVELLUM advised on successful Kernel and Naftogaz Eurobond offerings

AVELLUM acted as the Ukrainian legal counsel on two more successful Eurobond offerings from Ukraine. The firm acted as the Ukrainian legal counsel to Kernel Holding S.A. in connection with an offering of USD 300 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).

AVELLUM acted as the Ukrainian legal counsel to Citigroup Global Markets Limited as lead manager in connection with an offering by Naftogaz of Ukraine of USD 500 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 EUR 600 million and USD 335 million Eurobond offering by Naftogaz.

 

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