Ukrzaliznytsia pays off $150 mln eurobonds

13:58, 14.03.2019 1 min read

JSC Ukrzaliznytsia has paid off the first part of loan participation notes (LPN, eurobonds) in the amount of $150 million and paid the coupon on them, the company has reported on its website.

Ukrzaliznytsia Board Chairman Yevhen Kravtsov said that a loan for refinancing of the debt was raised on the domestic market. Oschadbank and the State Agency for Infrastructure Projects of Ukraine provided the funds.

"The funds were borrowed in the national and foreign currencies, and the currency-pegged liabilities were met. This additionally cut the potential risks for seeing exchange rate losses," Kravtsov said.

He said that the payment on the bonds in due time again confirms support of the railway sector by the state and financial stability of Ukrzaliznytsia. It also shows to creditors that the state and company have a responsible attitude to servicing own debts.

As reported, Ukrzaliznytsia in May 2013 placed its debut $500 million eurobond issue with a maturity period of five years through the specially created company Shortline Plc.