05/11/2021

NEC Ukrenergo has successfully completed the issuance of 5-year Green and Sustainability-linked Eurobonds under state guarantees in the amount of USD 825 million and a coupon of 6.875%. Eurobonds will be traded on the London Stock Exchange. The raised funds will be used to finance/refinance eligible projects in the field of renewable energy, including debt repayment to SE “Guaranteed Buyer”.

Lead Managers

Ukreximbank acted as a co-manager of the placement. BNP Paribas, Deutsche Bank and Goldman Sachs became joint bookrunners and lead managers of the transaction.The rating of the bonds is expected at the level of B3 from Moody's and B from Fitch, which corresponds to the sovereign rating of Ukraine.

"We are pleased to join such an important event in the history of not only the company, but also the entire energy sector of Ukraine. The debut issue of green Eurobonds of NEC Ukrenergo in such a significant amount testifies to investors' interest in the energy sector of Ukraine and support for the company's intentions to ensure sustainable development of infrastructure to increase the share of renewable energy sources in the energy balance of the country," said Sergii Iermakov, Acting Chairman of the Management Board of Ukreximbank.

Ukreximbank experience in the international debt capital markets

Ukreximbank has been an experienced and active participant in the international capital markets and an issuer of Eurobonds since 2004 (in total, the Bank raised about USD 3 billion through Eurobond issues). Besides, Ukreximbank is the only Ukrainian issuer to issue hryvnia-denominated Eurobonds and the first among Ukrainian issuers to repurchase part of its Eurobonds through a public tender offer.

 In the first half of 2021, Ukreximbank also acted as a co-manager for the issuance of Ukravtodor's 7-year Eurobonds in the amount of USD 700 million and a coupon of 6.25% under state guarantees.