NEWS (December 15, 2015)

Avellum Partners advised on Ukraine’s USD 15 billion sovereign debt restructuring

Avellum Partners acted as Ukrainian counsel for the Ministry of Finance of Ukraine on the restructuring of thirteen sovereign and sovereign-guaranteed Eurobonds with an outstanding principal of approximately USD15 billion.

Settlement of the exchange offer involved the restructuring of approximately USD15 billion of Ukraine’s external debt, achieves a 20% debt reduction for Ukraine (approximately USD3 billion) and allowed Ukraine to avoid paying any of the previously scheduled USD8.5 billion of principal falling due under such bonds through the end of 2018.

The Avellum Partners team was led by partner, Glib Bondar, with lead associates Artem Shyrkozhukhov and Taras Dmukhovskyy and tax support from associate Vadim Medvedev, and a team of lawyers, including Taras Stadniichuk, Anastasiya Voronova, Pavlo Shevchenko and Orest Franchuk.

 

 

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