Rail Capital Markets’ $500 Million Notes Offering

Dechert LLP advised JSC Ukrainian Railways in connection with the issue of US$500 million 8.25% Loan Participation Notes due 2024 by Rail Capital Markets plc.

JSC Ukrainian Railways is the Ukraine’s national railway company.

Dragon Capital and J.P. Morgan acted as Joint Bookrunners and Joint Lead Managers for the offering.

Ukrainian Railways will use the proceeds to fully repay UZ’s bridge loans from JSC “Oschadbank” and FinInPro maturing 1 Aug 2019, address upcoming amortization payment under the 2016 Notes due Sep 2019 and use the balance for partial repayment of certain other FX indebtedness of UZ as well as for capex and working capital financing.

Dechert advised Ukrainian Railways with a London-based team led by corporate partner Patrick Lyons (Picture) and associates Jennifer Rees and Amy Rees.

Involved fees earner: Patrick Lyons – Dechert; Amy Rees – Dechert; Jennifer Rees – Dechert;

Law Firms: Dechert;

Clients: JSC Ukrainian Railways;