Trans-Oil Group Successfully Completes Refinancing of $500 Million 2026 Eurobond with New $550 Million 2029 Eurobond

Trans-Oil Group Successfully Completes Refinancing of $500 Million 2026 Eurobond with New $550 Million 2029 Eurobond

13.11.2024

Trans-Oil Group, a leading integrated agribusiness operator in the Black Sea region, announces the successful refinancing of its $500 million, senior secured Eurobond due 2026. The Group has issued a new $550 million Eurobond, maturing in 2029, as part of its strategy to optimize the capital structure and extend the debt maturity profile.

The transaction garnered strong demand from global investors, with the order book reaching $1.2 billion—more than double the offering size. The issuance received broad interest from institutional investors, development financial institutions, hedge funds, private banks, and asset managers across North America, Europe, and Asia, demonstrating confidence in Trans-Oil Group’s robust business model and strategic vision.

Citi, ING, and Oppenheimer acted as Joint Global Coordinators, and, in the same time, together with Raiffeisen Bank International and Unicredit, they served as Joint Bookrunners, leveraging their extensive networks to secure a successful placement.

“We are thrilled with the strong support from our global investor base, which highlights their confidence in the future of Trans-Oil Group,” said Vaja Jhashi, CEO of Trans-Oil Group. “This successful refinancing is a testament to the strength of our business model, our commitment to sustainable growth, and our focus on delivering value to all stakeholders. The diverse participation from institutional investors, hedge funds, private banks, and asset managers underscores the broad appeal of our strategic approach and our solid credit profile.”

The proceeds from the new issuance will be used to fully refinance the existing 2026 Eurobond, repay other outstanding debt, and cover transaction fees and commissions. The newly issued Eurobond, maturing in 2029, features a competitive coupon rate, reflecting the Group’s improved credit standing and favorable market conditions.

This transaction marks a significant milestone for Trans-Oil Group as it continues to implement prudent capital management strategies aimed at reinforcing its market leadership in the Black Sea region.