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Successful conclusion of negotiations on restructuring of Ukrainian bank's Eurobonds
27.05.2015 10:09 "Agro Perspectiva" (Kyiv) —
The negotiations between the Ukrainian Ukreximbank and its ad hoc creditors’ committee for the reprofiling of its three Eurobonds maturing in 2015, 2016, and 2018 (totaling about US$1.5 milliard) have been successfully completed, Government Portal reports.
As to the report, this will help to save for the Ukrainian payments’ balance up to US$1.5 milliard within 20152018.
Reportedly, the results of the negotiations are fully in line with the objectives of the IMF supported program and demonstrate Ukraine’s commitment to finding collaborative and good faith acceptable outcomes in the framework of its current debt restructuring negotiations both for Ukraine and its creditors.
As to the report, the Ukrainian Ministry of Finance looks forward to continuing negotiations with the debtholders of other instruments included in the perimeter of the Ukrainian debt operation.
Thus, in particular, in order to meet the three IMF-agreed targets, the Ukrainian sovereign debt restructuring will also need to reduce debt levels and debt service.
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