13:45 21.07.2022

Results of Ukraine's proposal to defer payments on eurobonds, VRI to be announced on Aug 10

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Results of Ukraine's proposal to defer payments on eurobonds, VRI to be announced on Aug 10

The announcement of the results of Ukraine's request for consent to holders of its eurobonds to defer payments for two years and holders of its Value Recovery Instruments (VRIs) to change their terms is scheduled for August 10, the stock exchange has reported.

According to the report, for VRIs, their holders shall decide on the voting until the evening of August 5 inclusive, and for eurobonds - until the evening of August 9.

In the information on the results, Ukraine will announce which series of eurobonds and in what volume will be included in the transaction (for a positive decision, the consent of the holders of at least 2/3 of the bond series participating in the deal and at least half of each series included in it) has been completed or canceled a cross condition on the presence of consent both for eurobonds and for VRIs.

The announcement on VRIs also states that participants in the transaction will receive a reward of 5% of their notional value plus interest accrued on this amount at a rate of 7.75% per annum until the payment date of August 1, 2024.

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