Ministry of Finance welcomes the successful negotiations on Ukrzaliznytsia’s 2018 Loan Participation Notes

The Ministry of Finance welcomes the successful conclusion of the negotiations between Ukrzaliznytsia and its ad hoc creditors committee for the reprofiling of its U.S.$500,000,000 9.5 per cent. Loan Participation Notes maturing in May 2018.

The proposed terms of the renegotiation are expected to result in additional savings to Ukraine’s balance of payments of c.US$500 million for the 2015-2018 period.The results of the negotiations are fully in line with the objectives of the IMF supported program.

The Ministry of Finance callson Ukrzaliznytsia creditors to support the proposed terms during the forthcoming consent solicitation process, which is expected to start in early 2016.