Ukraine must pay the holders of Eurobonds USD 4.5 billion for servicing and repaying the corresponding debt in 2024 (starting from August).
The Member of the Verkhovna Rada from the Servant of the People faction, chairman of the parliamentary committee on finance, tax and customs policy, Danylo Hetmantsev, announced this on his Telegram channel, Ukrainian News Agency reports.
Of this amount:
- USD 0.91 billion - repayment (issue XS1303921214 with repayment on September 1, 2024)
- USD 3.61 billion - projected interest payment.
"I think it does not make sense to explain the obvious things why this amount is impervious to the budget in the context of the continuation of full-scale aggression from Russia. In order to delay these and other relevant payments to external commercial creditors, Ukraine begins formal consultations on the restructuring (postponement) of such payments during the IMF program. Informally, such consultations have intensified since the fall of last year," the MP wrote.
He recalled that under the terms of the issues, Ukraine should receive consent from owners who own at least 2/3 of the principal amount of all Eurobond issues and at least 50% of each issue separately, which will enter the restructuring perimeter (this is about USD 20 billion).
In 2022, Ukraine received consent from 75% of Eurobond holders at their denomination.
Some consultations will be held with owners of GDP-warrants and, if necessary, with holders of Eurobonds of state-owned companies guaranteed by the state.
“The talks - under the EFF program umbrella - are due to end by August 2024. This is the exclusive competence of the Ministry of Finance to comment on the progress of such negotiations and the terms of restructuring (terms of postponement, extension of old or new issues, guarantees to creditors)," Hetmantsev added.
As Ukrainian News Agency earlier reported, the total state (direct and guaranteed) debt of Ukraine in January decreased by 0.29%, or USD 0.42 billion, to USD 144.9 billion compared to the previous month.
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