14:15 15.02.2016

Restructuring of Sberbank of Russia's debt could be ground for restructuring of other unpaid government-secured credits

Restructuring of Sberbank of Russia's debt could be ground for restructuring of other unpaid government-secured credits

The successful restructuring of credits of OJSC Sberbank of Russia that was the result of a joint and agreed process could be a basis for restructuring of other unpaid government-secured credits as part of the country's debt transaction, the Finance Ministry of Ukraine has reported.

"Ukraine remains committed to finding a good faith resolution of all remaining external debt issues consistent with the constraints imposed by the IMF Extended Fund Facility and the contractual terms of the agreement reached in November 2015 with sovereign bondholders," the ministry said on Friday.

The Finance Ministry welcomes the successful restructuring of the sovereign-guaranteed term facility agreements between Sberbank of Russia and each of Ukravtodor and Pivdenne State Design Bureau worth some $367 million.

According to the report, pursuant to the restructuring, the outstanding principal balance of the bilateral loans (approximately $367 million) and accrued interest thereon was discharged in full, and the bilateral loans were terminated, in exchange for the delivery to Sberbank of $284,152,000 aggregate principal amount of Ukraine’s 7.75% senior notes due 2019, representing 75% of the outstanding principal balance of the bilateral loans (plus accrued interest), and $ 91,857,000 aggregate notional amount of Ukraine’s GDP-linked securities, representing the remaining 25% of the outstanding principal balance of the bilateral loans. Therefore, the debt was reduced by 25%.

РЕКЛАМА
Загрузка...
РЕКЛАМА
РЕКЛАМА
РЕКЛАМА
РЕКЛАМА
РЕКЛАМА

UKR.NET- новости со всей Украины

РЕКЛАМА