The Cabinet of Ministers of Ukraine passed a resolution, approving the terms of restructuring of two sovereign-guaranteed loans extended by Sberbank of Russia (Russian Federation)

The Cabinet of Ministers of Ukraine passed today a resolution, approving the terms of restructuring of two sovereign-guaranteed term facility agreements entered by and between Sberbank of Russia (Russian Federation) and each of Ukravtodor and Yuzhnoye State Design Office (together the “Loans”).

Under the resolution, the Minister of Finance is authorized to carry out transactions by way of changing the existing borrowers under the Loans and simultaneously exchanging the Loans for additional issue of Ukraine’s 7.75% Notes due on 1 September 2019 in the amount of U.S.$284,152,000 and additional issue of Ukraine’s GDP-linked Securities in the aggregate notional amount of U.S.$ 91,857,000.