Dragon Capital Acts as Joint Lead Manager and Joint Bookrunner in US$ 300m Eurobond Offering by Ukrainian Railways

Dragon Capital and J.P. Morgan acted as Joint Lead Managers and Joint Bookrunners for Ukrainian Railways’ return to international debt capital markets, pricing a US$ 300m 5-year Eurobond on July 8, 2021.

The order book reached ca. US$ 600m, resulting in more than 2x oversubscription, supplied by over 70 investors. Most of the investors represented large asset management funds (94%), reflecting a very high quality book of orders that was built during the execution; banks and private banking institutions accounted for 3%; and hedge funds for the remaining 3%. Geographically, 50% of the investors came from the UK and 41% from continental Europe.


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