The Ministry of Finance of Ukraine supports the consent solicitation made by Public Joint-Stock Company “Ukrainian Railway” for its 2018 Loan Participation Notes

1/20/16

The Ministry of Finance of Ukraine supports the exchange offer made by Public Joint-Stock Company “Ukrainian Railway” for its U.S.$500,000,000 9.5% Loan Participation Notes due 2018 (the “Notes”).

If the proposed resolution approving the exchange offer is approved, Noteholders will receive new Loan Participation Notes maturing in 2021, subject to certain amortisation payments, with a 9.875% coupon.

The commercial terms of this reprofiling were agreed with an ad hoc committee of certain holders of the Notes, which expressed their support for the reprofiling on the terms set out in the press release dated 9 December 2015. The proposed reprofiling of the Notes is also consistent with the financing requirements of Ukraine's IMF Extended Fund Facility.

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