Ukraine: Sayenko Kharenko – Legal Counsel On The Debut Eurobond Issue By One Of The Largest Russian Port Operators
Last Updated: 7 June 2013

Sayenko Kharenko acted as legal counsel to Goldman Sachs, ING and Raiffeisen Bank International, lead-managers of the debut USD 800 mln Eurobond offering followed by USD 75 mln tap issued by Far-Eastern Shipping Company plc ("FESCO").

The notes of the both original and tap deals were placed in two tranches: the USD 500 mln 8% notes due 2018 were tapped for USD 50 mln and the USD 300 mln 8.75% notes due 2020 – for USD 25 mln.

The notes are guaranteed by certain subsidiaries and the parent company. The funds raised will be used to repay FESCO's outstanding debt and debt incurred in connection with the acquisition of FESCO by Summa Group in December 2012.

FESCO is one of the largest Russian port owners and operators with rail and shipping assets, now part of Summa Group.

Sayenko Kharenko's team for the current transaction included senior associates Igor Lozenko and Iryna Bakina,associate Marta Hontaruk and was led by partner Nazar Chernyavsky.

Sayenko Kharenko has an established reputation as the leading capital markets firm in Ukraine (No.1 in Capital Markets according to Ukrainian Law Firms 2013 research by Yuridicheskaya Practika). In 2013 solely, the firm acted on the majority of Eurobond issues in Ukraine totaling over USD 4 billion.

To learn more about Sayenko Kharenko expertise and experience, please contact

Iryna Khymchak
Head of Marketing and Business Development
+38 044 4996000

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