Ukrzaliznytsia starts road show for 3 to 5-year eurobonds in dollars on June 26

Published June 25, 2019 at 10:53 am

Former Ukrzaliznytsia CEO Yevgen Kravtsov speaks in the railway monopoly’s Kyiv headquarters on Feb. 14, 2018. Kravtsov officially resigned from his post on Jan. 29, after two and a half years at the job, amid bad press over mismanagement and corruption at Ukrzalisnytsia. Ukrzaliznytsia is regularly criticized for its obsolete and non-transparent organization that has allowed corruption to flourish. The dilapidated railway system is in dire need of modernization, experts say, and the government has often said that its modernization is a priority.

Photo by Kostyantyn Chernichkin

Ukrzaliznytsia will start meeting with investors on June 26 to place dollar eurobonds issued for three to five years, a banker told Interfax-Ukraine.

Ukraine’s railway operator has issued mandates for J.P. Morgan and investment company Dragon Capital. The road show will be held in the United Kingdom and continental Europe.

Ukrzaliznytsia in its 2018 report said that the priority option for refinancing its public debt was to issue of eurobonds in Q2-3, 2019.

Ukrzaliznytsia in May 2013 placed its debut $500 million eurobond issue with a maturity period of five years through the specially created company Shortline Plc.