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City of Kyiv eyes external debt restructuring

City of Kyiv eyes external debt restructuring

5 July 2010

The Kyiv City Council is due to consider draft resolutions that foresee restructuring its external debt, the city’s Chief Financial Manager Viktor Padalka said on Friday at a city government meeting. External debts include three Eurobond issues totaling USD 700 mln with maturities in 2011, 2012, 2015. According to Padalka, city authorities are also contemplating raising some UAH 2 bln (USD 250 mln) to repay its debts to energy generating companies on the difference between their actual costs and acting retail utility tariffs.

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