Ukravtodor places Eurobonds on London Stock Exchange

“Due to this transaction, $700 million at 6.25% for a period of 7 years has been placed to upgrade the road infrastructure," the minister wrote.

According to Kubrakov, the series of bonds to implement the Great Construction program received a historically low rate compared to previous Ukrainian sovereign placements in U.S. dollars. During the placement, Ukravtodor received applications for almost $2.4 billion, which is three times more than planned.

The minister stressed that this shows a significant interest from the global financial market and confirms the trust in Ukraine as a state, as well as in major infrastructure projects.

J.P. Morgan and Dragon Capital acted as joint bookrunners and joint lead managers, and JSC Ukreximbank as co-manager.

As previously reported, at the All-Ukrainian Forum “Ukraine 30. Infrastructure” on February 22, Oleksandr Kubrakov announced that a joint-stock company would be established within Ukravtodor to attract long-term financing. This financial institution will be able to form the authorized capital through the issuance of infrastructure bonds, create joint ventures and attract institutional investors.

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