16:22 27.07.2020

Ukrzaliznytsia restructures $200 mln debt to Sberbank's Ukrainian subsidiary – company

1 min read
Ukrzaliznytsia restructures $200 mln debt to Sberbank's Ukrainian subsidiary – company

JSC Ukrzaliznytsia has announced an agreement on the restructuring of a $200 million debt to the Ukrainian subsidiary of Russia's Sberbank (Kyiv), which is due to be repaid by the end of July 2020.

The company's press service said on Monday that relevant agreements were signed last week as soon as the terms of restructuring took effect following the adoption a respective decision by the National Bank of Ukraine (NBU).

"Taking into account a negative impact of the pandemic on the financial markets, Ukrzaliznytsia restructured this debt for up to three years with a possibility of early repayment. The company plans further refinancing of the debt from the international capital market or from one of Ukrainian banks," it said.

Ukrzaliznytsia hope that the concluded agreement will have a positive effect on the company's liquidity and allow it to ensure the necessary level of financing for its outgoings.

The company also said that the restructuring became possible thanks to a well-coordinated and constructive position of the creditor and Ukrzaliznytsia, as well as due to assistance of the NBU and the Finance Ministry of Ukraine.

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