Ukraine has received agreements from holders of its Eurobonds due in 2019 and 2020 for early repurchase of the securities for USD 1.576 billion.
The Finance Ministry of Ukraine announced this in a statement on the website of the Irish Stock Exchange, Ukrainian News Agency reports.
On September 7, the Finance Ministry of Ukraine launched an offer to the holders of the outstanding Eurobonds due 2019 and 2020 for purchase by Ukraine for cash.
The tender offer expired on September 15. As of the expiration deadline, Ukraine received valid tender instructions for 2019 Eurobonds in an aggregate principal amount of USD 1.16 billion, all of which have been accepted for repurchase. Ukraine also received valid tender instructions for 2020 Eurobonds in an aggregate principal amount of USD 415.152 million.
The statement reads that the expected settlement date for the offer is on or about September 25.
As Ukrainian News Agency earlier reported, in early September, the Finance Ministry announced an offer to purchase Ukraine's Eurobonds due in 2019 and 2020 by issuing new securities.
According to the Finance Ministry, it is offering to purchase all the Ukrainian Eurobonds maturing in 2019.
The maximum volume of Eurobonds due in 2020 that the ministry is offering to purchase is USD 1.5 billion.
The price at which the ministry is offering to purchase the Eurobonds due in 2019 equals 106% of the principal amount of the Eurobonds and the price at which it is offering to purchase the Eurobonds due in 2020 equals 106.75% of the principal amount.
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