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18.03.2020

Ukrainian Railways timely made another payment of Eurobonds

Ukrainian Railways timely and in full repaid the next part of Eurobonds in the amount of 10% of initial outstanding principle amount of the Loan - USD 50 million, and paid the next coupon income for them. Both payments are made according to the set schedule.

During the global economic tensions in the world, JSC "Ukrainian Railways" demonstrated financial stability in relation to its credit obligations, which is a confirmation of the financial capability and reliability of the company. It also shows to the creditors a responsible attitude of the state and the company to servicing their borrowings.

The debut issue of Eurobonds took place in 2013 in an aggregate principal amount of USD 500 million, concluded between the Public Joint Stock Company  "Ukrainian Railways" as the Borrower and Shortline plc as the Lender and an Issuer. Thus, 70% of the main principle amount, namely USD 350 million, has already been repaid.  Another amount of USD 150 million remains to maturity over the next 1.5 years.

Let us remind that in May 2013 JSC "Ukrainian Railways" placed its debut issue of Eurobonds for USD 500 million. Eurobonds of JSC "Ukrainian Railways", together with Oshchadbank and Ukreximbank securities, were included in the restructuring perimeter of an external sovereign and guaranteed state debt initiated by the Ministry of Finance of Ukraine after IMF’s approval of a new four-year EFF extended funding program for Ukraine in the amount of USD 17.5 billion. The repayment schedule of the principal amount of the loan for 2019-2021 is the following: 60% is to be paid in 2019, 20% is to be paid in 2020 and 20% is to be paid in 2021.