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Ukraine redeemed USD 1.69 billion Eurobond

Today Ukraine repaid the second series of Eurobonds issued during the restructuring in 2015. The total amount of payment was more than USD 2 billion, including USD 1.69 billion of Eurobond redemption and USD 0.40 billion of interest payments on Eurobonds maturing in 2020-2027. Residual FX payments on public debt till the year-end amount to c.USD 1.6 billion.

The Eurobond was issued at a total nominal amount of USD 1.78 billion in the years 2015-16 at a yield of 7.75%. In 2017, the Ministry of Finance bought back USD 0.42 billion as part of the first liability management operation.

In August 2020, the Ministry of Finance increased its outstanding 2020 7.75% Eurobond by USD 0.33 billion. The proceeds were fully used to complete settlement of a liability management exercise consisting of the open-market repurchase of Ukraine’s GDP-linked Securities, which was made possible by amendments introduced into the Law on the State Budget of Ukraine in April 2020.