Аvellum Partners advised on the city of Kiev’s Eurobonds Restructuring
Avellum Partners acted as Ukrainian counsel to the city of Kiev on the restructuring of its USD 250 million 8% Loan Participation Notes due 2015 and USD 300 million 9.375% Loan Participation Notes due 2016.
The City of Kiev offered its creditors the opportunity to exchange the 2015 Notes and the 2016 Notes for sovereign notes and GDP-linked securities. This eurobond debt restructuring was structured as the exchange offer of 2015 Notes and the exchange offer and consent solicitation of 2016 Notes. As a result of the settlement of this operation, the City of Kyiv’s liabilities were reduced by a total of USD 448,851,000 (USD 148,851,000 from the 2015 Notes and USD 300,000,000 from the 2016 Notes).
The Avellum Partners team was led by partner, Glib Bondar, with lead associates Artem Shyrkozhukhov and Taras Dmukhovskyy with significant support from other associates, including Taras Stadniichuk, Anastasiya Voronova, Pavlo Shevchenko and Orest Franchuk.