Lazard, White&Case to be advisors to state banks, Ukrzaliznytsia, Kyiv City if foreign debt is restructured

State Oschadbank, Ukreximbank, Ukrzaliznytsia and Kyiv City Council will attract the same advisors as the Finance Ministry of Ukraine, France's Lazard Frères SAS and Britain's White&Case LLP, if they decide to restructure their foreign debts.

This is stipulated in cabinet resolution No. 132 of March 25, published in the Uriadovy Kurier newspaper on Saturday.

"The Finance Ministry coordinates events on the preparation and realization of the deals… and agrees the deals," reads the resolution.

According to the resolution, the conditions of the cooperation of state banks, Kyiv City and Ukrzaliznytsia with Lazard will be the same as with the Finance Ministry: 0.18% of the sum of the transactions restructuring Ukraine's foreign debt.

The conditions with White&Case will be defined in separate agreements.

The borrowers will pay their own funds and funds from Kyiv's budget for services provided by the advisors, reads the resolution.

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