Aequo, Freshfields, and Avellum Advise on Naftogaz Eurobond Issuance

Aequo, Freshfields, and Avellum Advise on Naftogaz Eurobond Issuance

  • Smaller Small Medium Big Bigger
  • Default Helvetica Segoe Georgia Times

Aequo and Freshfields Bruckhaus Deringer have advised NJSC Naftogaz on Ukrainian law matters in connection with the company’s return to the market with EUR 500 million 7-year Eurobonds at 7.625% p.a., its second capital markets transaction in 2019. Avellum and White & Case advised lead-manager and book-runner Citibank.

The Eurobond placement was made by Naftogaz in the course of ongoing unbundling and gas transit negotiations with the Russian Federation. 

Aequo's team advising on Ukrainian matters was led by Partner Yulia Kyrpa and included Counsels Bohdan Dmukhovskyy and Myroslava Savchuk, Of Counsel Denys Kulgavyi, Senior Associate Vasyl Mishchenko, and Associates Olesia Mashtaler, Taras Shmyh, and Anna Konovalova.

The Avellum team was led by Senior Partner Glib Bondar with support from Associates Anastasiya Voronova, Oleg Krainskyi, Orest Franchuk, Anna Mikhalova, and Mariana Veremchuk. Partner Vadim Medvedev and Associates Anton Zaderyholova and Yelyzaveta Kravtsova provided support on tax aspects of the transaction.

The same firms also advised Naftogaz on its earlier placement of EUR 600 million at 7.125% bonds and USD 335 million at 7.375% bonds, in July of this year (as reported by CEE Legal Matters on August 2, 2019).