| Project Detail |
Project Description
The investment of up to US$ 100 million in a tap issue of Ukrainian Railways PJSC ("UZ" or the "Company") senior unsecured Eurobonds. The Eurobonds tap is structured as an issuance of loan participation notes carried out by a Special Purpose Vehicle, Rail Capital Markets PLC (the "Issuer"), and is a follow up to the initial public issuance of US$ 500 million that took place on 1 July 2019. The proceeds from the Banks financing will be used to finance the rehabilitation of priority railway lines.
Project Objectives
The proceeds will be used to finance the rehabilitation of railway tracks (predominantly on the Trans-European Transport Network corridors within Ukraine), with a focus on priority sections which are currently limiting the operational speed of trains. The rehabilitation will allow to increase the speed of trains, overal throughput capacity, and reduce CO2 emissions. Thew Project will benefit from the introduction of the EBRDs procurement rules, Environmental and Social Policy and the implementation of a Corporate Governance Action Plan for UZs subsidiaries |
