The state Agency of automobile roads of Ukraine «Ukravtodor» and design Bureau «southern» successfully completed the restructuring of government-guaranteed loans before the «Sberbank of Russia».
This was reported on the website of the Ministry of Finance of Ukraine.
According to the Finance Ministry, as part of the transaction loans in the amount of about 367 million. The U.S. and the accrued interest were repaid in full. Instead of «Sberbank of Russia» received the bonds of foreign citizens on 284,152 million. USA with a yield of 7.75% per annum and maturing in 2019, which corresponds to 75% of the principal amount of the loans and accrued interest, and state derivatives on an aggregate notional amount of $ 91,857 million. This represents a 25% debt. Thus, 25% of the debt was written off, the report says.
The Ministry noted that restructuring meets the objectives of the programme with the International monetary Fund agreed in March 2015.
«The Ministry of Finance hopes that this successful restructuring of the loan of «Sberbank of Russia», which was the result of joint and coordinated process can provide the basis for resolving other outstanding government-guaranteed loans within debt operations of Ukraine», — stated in the message.
As reported, the Cabinet of Ministers of Ukraine of 11 February approved the debt restructuring of the state road Agency of Ukraine «Ukravtodor» and design Bureau «southern» in front of «Sberbank of Russia» in the amount of 367,4 million. with a 25-percent write-off and registration of restructured debt through the issuance of government bonds.
Earlier, the government of Ukraine introduced a moratorium on debt payments to state holding company «Ukravtodor» and design Bureau «southern» in front of «Sberbank of Russia» for a total amount of 507 million. (to retirement), which in the case of lack of agreement on restructuring would come into force from January to may 2016 respectively.
The Ministry of Finance congratulated «Ukravtodor» and CB «South» restructuring credits «the savings Bank of Russia» on 367 million 12.02.2016