NEWS (December 14, 2012)

Clifford Chance advised State Enterprise Financing of Infrastructural Projects on issues of notes

International law firm Clifford Chance represented the lead manager in placement of notes by the State Enterprise Financing of Infrastructural Projects USD 550 million guaranteed by the state of Ukraine. The notes were issued with a coupon of 9% and are due in 2017.

This is the fourth successful direct issue of the bonds by a Ukrainian company on a foreign stock exchange. On 7 December 2012 the board of the Irish Stock Exchange approved the admission of the securities to listing on the official list and trading on the Main Securities Market. The proceeds will be used by State Enterprise Financing of Infrastructural Projects to complete various infrastructure projects related to the hosting in Ukraine of the UEFA EURO 2012.

The Clifford Chance international team included the London office, advising on English law issues, and Kiev office, advising on Ukrainian law. The London transaction team consisted of partners Tim Morris and Robert Trefny, associates Patrick Dougherty and Marianna Shelenkova. The Kiev transaction team was made up of counsel Olexiy Soshenko and associates Maria Tsabal and Kostyantyn Olefirenko.

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