Ukraine restructures USD 42 mln in guaranteed debt to Citibank
25 February 2016
The Ukrainian government approved on Feb. 24 the restructuring conditions of a state-guaranteed loan provided by Citibank to infrastructure holding Ukravtodor, the Finance Ministry reported the same day. The USD 41.5 mln debt will be exchanged into sovereign Eurobonds maturing in September 2019 and Ukraine’s GDP warrants in the proportion of 75%/25%, according to the report.
Earlier this month, the Cabinet of Ministers ruled to exchange USD 367 mln in guaranteed loans from Ukravtodor and Pivdenne Design Bureau, provided by Sberbank of Russia, under the same conditions.
