Ministry of Finance welcomes Ukreximbank's bond extension as a first step in debt restructuring

4/27/15

The Ministry of Finance welcomes the overwhelming support received today by Ukreximbank for its bond extension.


Bondholders voted with full knowledge of the proposed re-profiling terms, which are fully in line with the goals of the IMF-supported program. We look forward to next steps in our negotiations with Ukraine's debtholders.

Contrary to Ukreximbank's operation which had to contribute only to liquidity targets, sovereign debt restructuring will also need to reduce debt levels and debt service.

The Ministry reminds all involved that the deadline for the debt restructuring operation is the first review of the IMF-supported program, scheduled for June.

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