Ukraine Announces Exchange Offer and Consent Solicitation for Existing Eurobonds

Today, on August 9, Ukraine announced an exchange offer and consent solicitation for its existing Sovereign Eurobonds and Ukravtodor Guaranteed Eurobonds in the statement published on the Euronext Dublin and London Stock Exchange. 

This proposal to investors incorporates the terms of the agreement-in-principle reached with the bondholders' Ad Hoc Committee on July 22, as detailed in the Exchange Offer and Consent Solicitation Memorandum. The Memorandum is available to bondholders via the provided link.

Investors should refer to the launch announcement published on the Euronext Dublin and  London Stock Exchange for detailed information about voting deadlines and other matters.

"We are entering the key stage of our debt sustainability recovery operation: today, bondholders begin voting on the proposal to exchange and approve amendments to the terms of our Eurobonds based on the agreement in principle reached with the Creditors' Ad Hoc Committee. This stage concludes nearly two years of comprehensive consultations with the investment community aimed at finding optimal conditions that satisfy all parties, including the IMF and official creditors. Furthermore, the discussions with the broad investment community during the last couple of weeks confirmed that the agreement was positively received by the market. We believe that today's transaction incorporates all the necessary elements for a successful outcome.

Once the deal is completed, Ukraine will reduce its debt stock by USD 8.67 billion and save USD 22.75 billion in debt payments by 2033, allowing these budget resources to be used towards addressing the urgent needs of a country at war.”, - commented Yuriy Butsa, Government Commissioner for Public Debt Management.