NPC "Ukrenergo" has reached an agreement on the terms of the debt management operation for green sustainable development bonds guaranteed by the state in the amount of 825 million dollars. This is reported by the press service of "Ukrenergo", reports UNN.
The National Energy Company "Ukrenergo" reports that it has reached an agreement on the terms of the debt management operation for state-guaranteed "green" sustainable development bonds in the amount of $825 million with an interest rate of 6.875% per annum and a maturity date in 2028…
According to the terms of the agreement, creditors will be offered to sell their bonds at an auction with a maximum value of each bond at 65.125% of the nominal value (taking into account already accrued and overdue interest). To implement this scenario, "Ukrenergo" plans to raise 430 million dollars on international financial markets.
Or bondholders can exchange existing bonds for new bonds of the company not guaranteed by the state with an extended maturity (December 2031) and an increased annual interest rate (8.5% per annum).
Ukrenergo reminded that "green" sustainable development bonds are a loan of 825 million dollars, which NEC Ukrenergo received in 2021 under state guarantees. In November of last year, in accordance with the memorandum with the IMF, the requirements of Ukrainian legislation and the decision of the shareholder, payments on bonds were temporarily suspended. Since then, negotiations have been ongoing regarding the terms of debt restructuring.
Let us remind you
Ukraine announced that it failed to reach an agreement with holders of $2.6 billion of its debt, undermining its hopes for a restructuring by the deadline for payment next month.