The holders of two issues of Eurobonds for a total of $895 million accepted UZ proposals to defer the repayment of the principal debt for two years. UZ explained that this would reduce the pressure on its liquidity and would contribute to stable operation in wartime and post-war conditions. It is reported by the Railway Supply magazine with reference to the Railway Gazette.

UZ

“Almost 12 000 of our infrastructure assets have been damaged by the aggressor”, said UZ Chairman Oleksandr Kamyshin. “But we do not stop, because we understand that the security and economy of the country depend on us. This restructuring will free up financial resources to eliminate the consequences of Russian aggression, restore communication with the de-occupied territories and return normal life to the affected regions of Ukraine.”

PKP CARGO near break even after three quarters of 2022

The redemption of Eurobonds issued in 2019 has been postponed from 2024 to 2026, and those issued in 2021 from 2026 to 2028. Coupon payments with maturity in 2023-2024 have also been postponed to January 2025 with the possibility of their capitalization.

The agreement reached on December 23 has been implemented with the support of the Ukrainian government, Ministry of Finance, Commissioner for Public Debt Management and UZ advisers JP Morgan and Dragon Capital.

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