This is the first successful external debt operation by corporate borrowers not secured by state guarantees since the beginning of Russia’s full-scale invasion of Ukraine.
Ukrzaliznytsia has completed the final formalities for the rescheduling of Eurobonds for a total of $895 million. This was announced yesterday by the Ministry of Infrastructure.
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As a result, debt payments on Eurobonds are postponed from 2024 to 2026, and from 2026 to 2028.
It is said to be the first successful external debt operation by corporate borrowers not secured by state guarantees since the beginning of Russia’s full-scale invasion of Ukraine.
“The postponement of Eurobonds payments will reduce pressure on the company’s liquidity, which in turn will provide more opportunities to restore infrastructure and increase the export capacity of rail transport,” the report said.
Recall that in August 2022, Ukraine was granted a moratorium on external debt for $20 billion. Foreign creditors have frozen payments on international bonds for two years to prevent a default.
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Source: korrespondent
I’m Liza Grey, an experienced news writer and author at the Buna Times. I specialize in writing about economic issues, with a focus on uncovering stories that have a positive impact on society. With over seven years of experience in the news industry, I am highly knowledgeable about current events and the ways in which they affect our daily lives.