Ukraine's Eurobond holders vote for debt restructuring

The Ministry of Finance has announced that creditors have successfully voted in favor of the restructuring of Ukraine's Eurobonds and Ukravtodor's state-guaranteed Eurobonds, as announced on the website of the London Stock Exchange.

"Over 97% of creditors supported our consent proposal to amend the terms of the Eurobonds. This support allows Ukraine to restructure all government Eurobonds and state-guaranteed Eurobonds of Ukravtodor," said Finance Minister Serhiy Marchenko.

The total value of bonds subject to restructuring is $20.47 billion.

The restructuring includes:

→ A nominal reduction in the value of public debt by 37% from the first day of the agreement, reducing Ukraine's public debt by more than $8.5 billion;

→ A decrease in debt payments by $11.4 billion during the IMF program period (a reduction of over 90%) and by $22.75 billion until 2033 (a reduction of over 75%);

→ An increase in the average maturity of Eurobonds by almost four years (in addition to the two-year maturity extension in 2022).