Ukrzaliznytsia seeks to cut share of foreign currency of total company commitments in 2018

17:20, 06.02.2018 1 min read

 Public joint-stock company Ukrainian seeks to fully restructure its loan portfolio in 2018, cutting the loan burden and change the currency basket, Ukrzaliznytsia Board Chairman Yevhen Kravtsov has said.

"Today, we attract 90% [of loans] in foreign currency, while revenue in foreign currency does not exceed 10%, and mostly even 7%. This is a large misbalance seen in Ukrzaliznytsia," he said at a press conference in Kyiv on Tuesday.

Kravtsov said that the loan portfolio of the company is large, adding that last year Ukrzaliznytsia successfully managed to avoid technical default.

As reported, in 2018 Ukrzaliznytsia plans to borrow in the amount of UAH 18.7 billion, including the issue of domestic bonds for UAH 2 billion and loan repayment in the amount of UAH 14.4 billion, based on the calculation using the exchange rate of 29.20 UAH/$1.