The Ministry of
Finance welcomes the agreement of bondholders to exchange the 2016 US$300m City
of Kyiv Eurobond for new sovereign securities, and calls on all holders of the
2015 US$250m Eurobond to exchange their notes before offer expires.
The bondholder vote on 8 December 2015 in favour of exchanging the 2016 US$300m City of Kyiv Eurobond for new Ukrainian securities is an important step in stabilizing City of Kyiv's finances and in implementing Ukraine’s overall debt operation in line with the targets set under the IMF supported Extended Fund Facility.
The bondholder vote on 8 December 2015 in favour of exchanging the 2016 US$300m City of Kyiv Eurobond for new Ukrainian securities is an important step in stabilizing City of Kyiv's finances and in implementing Ukraine’s overall debt operation in line with the targets set under the IMF supported Extended Fund Facility.
The Ministry reminds all holders of 2015 US$250m City of Kyiv Eurobonds that the possibility to exchange such securities, after a 25% haircut, into sovereign notes and receive sovereign GDP-linked securities is only permitted by the 2015 Ukrainian budget law.
The Ministry calls on all 2015 note holders to take up this opportunity before the announced expiry of the exchange offer on 16 December 2015 at 5:00pm London Time.
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