JSC “Ukrainian Railways” completed repayment of the first part of Eurobonds for $ 150 million and paid the next coupon income for them

JSC “Ukrainian Railways” with the support of the Cabinet of Ministers of Ukraine timely and fully repaid the first part of Eurobonds for $ 150 million and paid the next coupon income for them. This was announced by the Chairman of the board of JSC “Ukrainian Railways” Yevhen Kravtsov.

According to him, timely repayment of debt obligations once again confirms the support of the railway industry by the state and the financial stability of JSC “Ukrainian Railways”. It shows creditors a responsible attitude of the state and the company to servicing their own borrowings. “Ukrainian Railways during its long history, as a permanent successor, has always been on time and in full with its obligations”,– said Yevhen Kravtsov.

 He also added that credit funds for refinancing the debt were acquired from the domestic market. In particular, they were provided by Oschadbank and State Agency for Infrastructure Projects of Ukraine (Ukrinfraproekt). “Borrowings were made in national and foreign currency, which resulted in the repayment of foreign currency liabilities. This further reduced the potential risks of obtaining losses from exchange rate differences”,– noted the head of the company.

 Let us remind that in May 2013 JSC “Ukrainian Railways” placed its debut issue of Eurobonds for $ 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 $ 17.5 billion. The repayment schedule of the principal amount of the loan for 2019-2021 is the following: 60% must be paid in 2019, 20% must be paid in 2020 and 20% must be paid in 2021.