15:18 04.06.2018

Ukraine wants to repeat 2017 eurobond refinancing operation in 2018, waiting for positive signal from IMF – Finance minister

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Ukraine wants to repeat 2017 eurobond refinancing operation in 2018, waiting for positive signal from IMF – Finance minister

Ukraine again plans to enter the eurobond markets in 2018 to manage to pay state debt reaching its peak in 2019-2020, although it is better to do this only after receiving a positive signal from the International Monetary Fund (IMF) on the new tranche under the Extended Fund Facility (EFF), Ukrainian Finance Minister Oleksandr Danyliuk has said.

"We have a solution to the problem of peak payments: the repetition of the last year transaction," he said in an interview with the Ekomomichna Pravda published on Monday.

The finance minister recalled that in September 2017, Ukraine raised $3 billion thanks to placement of eurobonds with redemption in 2031-2032 at 7.375%, of which $1.6 billion was used to buy out eurobonds maturing in 2019 and 2020, issued at 7.75% per annum.

"Until we receive a positive signal from the IMF, we ca not enter the markets," Danilyuk said at the same time speaking on Radio NV.

He said that when placing eurobonds 2017, he promised investors that Ukraine is going to reform and expects a new tranche of the IMF at the end of 2017. The minister said that he made these promises after talking with the leaders of the Ukrainian state, but now it is his responsibility to investors.

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