Legal DealFolio - Ukreximbank First International Hryvnia Bond

Global law firm White & Case LLP advised Credit Suisse, Citigroup and Deutsche Bank on the offering on the international capital markets of UAH2,385,050,000 (equivalent to approximately U.S.$300 million) 11.00 per cent Deposit Linked Notes by Ukreximbank, the State Export-Import Bank of Ukraine. The deal is the first Euroclearable international hryvnia bond and effectively opens the market for other potential future issues from Ukraine. The notes are hryvnia-denominated securities which are settled through international clearing systems in U.S. dollars based on market foreign exchange rates. The notes are issued by Biz Finance plc, the English finance company used by Ukreximbank and the proceeds will be used for the purpose of funding a deposit to be placed with Ukreximbank. "This is a milestone deal that opens up the path for subsequent hryvnia bond issues on the international markets," commented White & Case partner Stuart Matty. "Borrowers are looking for protection from currency fluctuation and investors are attracted by the potential benefit from currency appreciation. Buyers who are keen on Ukrainian currency exposure but want settlements via the international clearing systems now have that option open to them." White & Case also advised Citigroup and Credit Suisse on Ukreximbank's offering of U.S.$500,000,000 8.375 per cent Loan Participation Notes due 2015 issued by Biz Finance plc in April 2010. The White & Case team involved on the deal was led by London partner Stuart Matty, assisted by partner Gavin McLean, senior associate Richard Pogrel and associate Marette Kemp. Magisters acted as Ukrainian legal counsel to Credit Suisse, Citigroup and Deutsche Bank.

Deal Date:	09-02-2011	Practice Area:	Debt Capital Markets
Deal Title:	Ukreximbank First International Hryvnia Bond	Industry:	Banks
Description:	Global law firm White & Case LLP advised Credit Suisse, Citigroup and Deutsche Bank on the offering on the international capital markets of UAH2,385,050,000 (equivalent to approximately U.S.$300 million) 11.00 per cent Deposit Linked Notes by Ukreximbank, the State Export-Import Bank of Ukraine. The deal is the first Euroclearable international hryvnia bond and effectively opens the market for other potential future issues from Ukraine. The notes are hryvnia-denominated securities which are settled through international clearing systems in U.S. dollars based on market foreign exchange rates. The notes are issued by Biz Finance plc, the English finance company used by Ukreximbank and the proceeds will be used for the purpose of funding a deposit to be placed with Ukreximbank. "This is a milestone deal that opens up the path for subsequent hryvnia bond issues on the international markets," commented White & Case partner Stuart Matty. "Borrowers are looking for protection from currency fluctuation and investors are attracted by the potential benefit from currency appreciation. Buyers who are keen on Ukrainian currency exposure but want settlements via the international clearing systems now have that option open to them." White & Case also advised Citigroup and Credit Suisse on Ukreximbank's offering of U.S.$500,000,000 8.375 per cent Loan Participation Notes due 2015 issued by Biz Finance plc in April 2010. The White & Case team involved on the deal was led by London partner Stuart Matty, assisted by partner Gavin McLean, senior associate Richard Pogrel and associate Marette Kemp. Magisters acted as Ukrainian legal counsel to Credit Suisse, Citigroup and Deutsche Bank.
Financial Center:	London	Value:	0.00-100.00
Advised Party:	Lead Manager	Law Firm	White & Case
Issuer Jurisdiction	Ukraine	Listing Jurisdiction	United Kingdom
Classification:	Sovereign and Public Sector Bonds Sovereign Bonds	Lawyer	Stuart Matty

Practice Areas -

Debt Capital Markets Law Firms and Lawyers

Practice Areas - Debt Capital Markets Law Firms and Lawyers