Ukraine redeemed its Eurobonds of $1.69 billion
September 2, 2020
Yesterday Ukraine bought back Eurobonds issued during the restructuring operations after the default in 2015 for more than $2 billion. The payment consisted of $1.69 billion of the Eurobond redemption and $0.40 billion of coupon payments on Eurobonds with a maturity date in 2020-2027.
The issue of the 7.75% 1sep2020 Eurobond with a total face value of $1.78 billion took place in 2015-2016. A year later, the government proceeded with the liability management exercises that included the repurchase of $0.42 billion.
This August Ukraine announced an increase of its 7.75% 1sep2020 bonds by $0,33 billion. The funds were allotted to the liability management operations that included open-market buyback of Ukraine's GDP-linked securities. That became possible due to the modification of the Law on the State Budget of Ukraine in April.
Company — Ukraine