Ukrzaliznytsia expects to increase revenue by almost half a billion dollars

PJSC «Ukrzaliznytsia» expects in 2016 to increase the operating revenue of 480 million USD due to increase of transportation tariffs (by 15%) and growth in transportation volumes. This was announced by the management company during the web presentation of the main characteristics of Eurobond restructuring by 0.5 billion dollars, transfers «Interfax-Ukraine».

The management of «Ukrzaliznytsya» also expects that operations optimization will improve the profitability of the enterprise at UAH 5.2 bn (us $ 0.2 bn).

In addition, Ukrzaliznytsia reported that freight traffic continues in the Donetsk and Luhansk regions (including those in militant-controlled territories), mainly for coal transportation.

Payments received as a result of activity in these regions amounted to $ 350 million in December 2015 and 220 million hryvnias in January 2106.

Regarding Eurobonds, the «Ukrzaliznytsia» announced the granting of prior approval for the restructuring of the securities more than half of their holders.

As reported, Ukrzaliznytsia 9 December 2015, during talks with a group of companies managing the assets as part of ICE Canyon LLC, Portland Worldwide Investments Ltd., Promeritum Investment Management LLP and VR Global Partners, L. P., which created the Ad Hoc Committee reached agreement on the terms of restructuring Eurobonds worth $ 500 million.

The result will be increased the coupon rate from 9.5% to 9,875% (to be effective November 21, 2015), the maturity extended from may 21, 2018 to September 15, 2021.

Ukrzaliznytsia expects to increase revenue by almost half a billion dollars 04.02.2016

Февраль 4th, 2016 by
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