Vodafone Ukraine $500 million 6.2% eurobond issue

Overview:

• Mobile operator Vodafone Ukraine placed $500 million eurobonds on Euronext Dublin, through the special purpose vehicle VFU Funding.
• The issuance, due in 2025, has a coupon rate of 6.2%. This is the lowest US dollar coupon from a Ukrainian corporate issuer to date, and the bond has a call option from the second year.
• The proceeds will be used for refinancing bridge facilities and general corporate purposes.
• This transaction follows NEQSOL Holding's $734 million acquisition of Vodafone Ukraine in December 2019.

Natasha Forrest - Researcher