According to the report, the Eurobond is irrevocably and unconditionally guaranteed by the state of Ukraine. This issuance was rated in line with Ukraine's sovereign rating by Moody's and Fitch.
"An amount equal to the net proceeds from the transaction will be used to finance or re-finance eligible green projects, as described in Ukrenergo's Green and Sustainability-Linked Bond Framework. Principally, such amount will be used by Ukrenergo for the repayment of debt owed to the Guaranteed Buyer, with any remaining proceeds after repayment of the debt owed to the Guaranteed Buyer used to finance or re-finance other eligible green projects," the report reads.
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