17.02.2016, 00:54
Sberbank Announces Closure of Debt Restructuring Deal for Ukraine
OREANDA-NEWS. Today, on the basis of a set of agreements signed by Sberbank and the Ministry of Finance of Ukraine, a deal was closed to restructure the debt of Ukrainian state companies Ukravtodor and Yuzhnoe State Design Office.
The conditions of restructuring involve exchanging 100% of the sum of the debt owed by Ukravtodor and Yuzhnoe State Design Office, including accrued interest, for sovereign securities of Ukraine, and will not result in any financial losses for Sberbank.
In exchange for the principal debt amounting to USD 367.4 mln and accrued interest, Sberbank received Ukrainian securities worth USD 376 mln, 75% of which are Ukrainian Eurobonds that are to be repaid in 2019, and 25% are notes with payments that are linked to Ukraine's GDP.
The conditions of restructuring involve exchanging 100% of the sum of the debt owed by Ukravtodor and Yuzhnoe State Design Office, including accrued interest, for sovereign securities of Ukraine, and will not result in any financial losses for Sberbank.
In exchange for the principal debt amounting to USD 367.4 mln and accrued interest, Sberbank received Ukrainian securities worth USD 376 mln, 75% of which are Ukrainian Eurobonds that are to be repaid in 2019, and 25% are notes with payments that are linked to Ukraine's GDP.
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