Sodali & Co Debt Team supports Ukraine to achieve budget liquidity and financial stability

Sodali & Co are delighted to have supported Ukraine in completing the restructuring of its US$20.5 Billion Sovereign and Sovereign-Guaranteed Eurobonds. 

Working alongside White & Case and Rothschild & Co teams, the Sodali & Co Global Debt Services Team assisted Ukraine in restructuring by acting as Information, Tabulation, and Exchange Agent. 

The restructuring process involved exchanging thirteen series of sovereign Eurobonds and one series of the Ukravtodor sovereign-guaranteed Eurobonds into a package of eight new Eurobond series with US$15.2 billion in principal amount.  
 
As a result of this transaction, Ukraine’s state debt has been reduced by close to US$9 billion. According to a statement from the Ministry of Finance, the deal represents an important achievement that will support the country's budget liquidity and financial stability. 

Damian Watkin, Senior Managing Director, Global Debt Services, said: “It’s a moment of real professional and personal pride to have been able to contribute to the success of this restructuring. We are delighted for our client and the talented teams at White & Case and Rothschild & Co, with whom we have worked so closely, to achieve a support rate of 97% of bondholders for such an important transaction.” 

Olga Fedosova, Partner, Capital Markets, White & Case said “The Sodali & Co team's creativity and out-of-the-box thinking were instrumental to the successful execution of the exchange. They provided us with effective solutions throughout this challenging process. I would recommend them and their services without hesitation.”