Following the proposal of the Ministry of Finance, the Government on April 27 decided to issue additional Ukraine’s external sovereign bonds and state derivatives of 2015. This additional issue is aimed at completion of the technical matters related to the restructuring of the external sovereign debt of Ukraine which was settled in November 2015.
The Ministry of Finance is actively working to recover the public finance system and to reduce the debt burden on the state budget. With this purpose, last year the Ministry of Finance successfully restructured 13 out of 14 series of sovereign bonds as well as sovereign guaranteed bonds.
To complete the restructuring of the sovereign and sovereign guaranteed debt, Ukraine has to issue additional external sovereign bonds and state derivatives for the holders of the previously issued bonds in the total amount approximately $430.6 million.
The Government is now approving the terms of the additional issue of the Ukraine’s external sovereign bonds and state derivatives of 2015. Thus, only the so-called “Russian debt” amounting to $3 billion remains to be unsettled external debt of Ukraine.