Aequo advised Naftogaz on tax matters in preparation of an issue of loan participation notes to be listed at the Irish Stock Exchange

Aequo advised Naftogaz of Ukraine on tax matters in preparation of an issue of loan participation notes to be listed at the Irish Stock Exchange. The advice covered, in particular, tax implications of LPN structure for the client, analysis of industry-specific taxation rules, and drafting debt instruments (including relevant parts of loan agreement and offering prospectus).

In 2019, Naftogaz placed five-year bonds in the amount of EUR 600 million at 7.125% and three-year bonds in the amount of USD 335 million at 7.375%. The deal became the first placement of Eurobonds by Naftogaz since 2009, as well as the first dual-tranche issue of bonds by Naftogaz in Euros and US dollars.