Ukreximbank Reaches Restructuring Agreement on 2015/16/18 Bonds

Agreement reached with bondholders owning close to 30% of principal, Ukreximbank says in statement on website.

  • 2015 deal on terms set out on April 20: Link
  • 2015 bond maturity extended by 7 yrs and coupon increased to 9.625%
  • 2016 deal includes seven-year maturity extension to Feb. 9, 2023 and coupon increase to 6 mo. Libor + 7%
  • 2018 deal includes seven-year maturity extension to Jan. 22, 2025 and coupon increase to 9.75%
  • 2016 bondholders to receive initial 50% principal payout on Feb. 9, 2020, with remaining paid in 6 equal semi-annual installments starting Aug. 9, 2020
  • 2018 bondholders to receive 50% of principal on Jan. 22, 2021, with remaining paid in 8 equal semi-annual

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