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Latham & Watkins Advises J.P. Morgan and Dragon Capital on Ukrainian Railways Consent Solicitation

January 17, 2023

The agreement will reduce the burden on the Company’s liquidity.

Latham & Watkins has advised J.P. Morgan and Dragon Capital as the solicitation agents in relation to a consent solicitation launched by Ukrainian Railways (the Company) for two series of Eurobonds totalling US$895 million in outstanding principal amount.

The consent solicitation was successful and provided the Company with a two year interest deferral period and various covenant relaxations, as well as a two year maturity extension subject to completion of certain conditions. This relief will allow the Company to reduce its debt burden and free up liquidity which will be instrumental in contributing to the stability of its operations.

The Latham team was led by London corporate partners David Stewart and Manoj Tulsiani, with associates Carolina Gori and Clive Wong.