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Ukraine to issue eurobonds worth $31.617 mln to restructure Ukravtodor's debt to Citibank

Ukraine to issue eurobonds worth $31.617 mln to restructure Ukravtodor's debt to CitibankCitibank will receive Ukraine's eurobonds due on September 1, 2019 worth $31.617 million and government warrants with the conventional value of 410.389 million that are pegged to the GDP pace as part of restructuring of the government-secured credit of $41.5 million issued to Ukravtodor.

Cabinet resolution No. 101 of February 24, 2016 was published in the Uriadovy Kurier newspaper on Thursday.

Finance Minister of Ukraine Natalie Jaresko said at the cabinet meeting on Wednesday that it was planned to finalize the transaction on February 25.

She said the conditions of restructuring the credit coincide with the conditions of the restructuring of two government-secured credits issued by Sberbank of Russia to Ukravtodor in 2011 and Pivdenne Design Bureau totally worth around $367 million: the issue of eurobonds for 75% of the debt sum and government warrants – for the rest of the sum.
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