11:34 20.04.2015

Restructuring of Ukrzaliznytsia's eurobonds foresees only prolongation – Finance Ministry

1 min read
Restructuring of Ukrzaliznytsia's eurobonds foresees only prolongation – Finance Ministry

The planned restructuring of Ukrzaliznytsia's eurobonds, as well as the eurobonds of state-controlled Oschadbank and Ukreximbank, foresees the prolongation of their maturity term without the reduction of coupon and principal, reads a Finance Ministry presentation for creditors, announced at a meeting in Washington on Saturday night.

According to the report, Ukrzaliznytsia and both state-owned banks will hold separate negotiations, appropriate to their particular situation.

The debut placement of Ukrzaliznytsia's five-year eurobonds worth $500 million at a rate of 9.5% per annum was held on May 15, 2013. The lead managers were Barclays, Morgan Stanley, and Sberbank CIB.

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