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Ukrainian Finance Ministry confirms payment of $120 mln coupon on eurobonds

July 24, 2015, 11:22 UTC+3 KIEV
The debt payment was in question until the last moment
1 pages in this article
© ITAR-TASS/Valeriy Matytsin

KIEV, July 24. /TASS/. The Ukrainian Finance Ministry confirms to TASS payment of $120 mln coupon on eurobonds, Deputy Head of the Finance Ministry Artem Shevalev told TASS Friday.

July 24 is the payment deadline for Ukraine’s coupon payment on Eurobonds in the amount of $120 mln. Otherwise the country would have had to virtually default on its debt.

The debt payment was in question until the last moment. Kiev has repeatedly stated that it intends to restructure its debt to private creditors. One of the latest attempts to negotiate with the creditors was held last week.

The creditors warned Kiev that "any delay in payment will be treated as a default and endanger the recovery plans of Ukraine."

Kiev, in turn, offered to private creditors to write off 40% of the nominal value of sovereign bonds. The creditors' committee is holding hegotiations with Ukraine. The committee includes T. Rowe Price, TCW Group, BTG Pactual and Franklin Templeton investment funds.

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