EPAP Ukraine advised on USD 500 million exchange offer by Ferrexpo
EPAP Ukraine has advised Credit Suisse and Morgan Stanley as joint dealer managers on an exchange offer for USD 500 million 7.875% guaranteed notes due 2016 issued by Ferrexpo Finance plc. The exchange offer completed on 24 February 2015.
Ferrexpo is a Swiss-headquartered iron ore company with assets in Ukraine. It has been mining, processing, and selling iron ore pellets to the global steel industry for over 35 years.
Ferrexpo Finance issued USD 160,724 million 10.375% guaranteed amortizing notes due 2019 in the course of restructuring of the existing USD 500 million 7.875% guaranteed notes of due on 7 April 2016. The new bonds are guaranteed by Ferrexpo plc, Ferrexpo Middle East FZE, and Ferrexpo AG, they benefit from the suretyship of Ferrexpo Poltava Mining, and they were issued under Regulation S and Rule 144A of the U.S. Securities Act of 1933.
EPAP Ukraine also advised UBS, J.P.Morgan, and Morgan Stanley, the joint lead managers on the original issue earlier in April 2011.
The firm’s team was led by partner Roman Stepanenko, and included senior associate Kateryna Oliynyk and associate Oleksii Latsko.
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