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Ukraine : Ministry of Finance of Ukraine supports the exchange offer made by the City of Kyiv for its 2015 and 2016 Eurobonds.

The Ministry of Finance of Ukraine supports the exchange offer made by the City of Kyiv for its 2015 and 2016 Eurobonds representing a total of US$550 million.

Participating holders of those bonds will receive, after a 25% haircut, in equal parts, two sovereign bonds maturing in 2019 and 2020 with a 7.75% coupon and GDP growth-linked warrants for 25% of the nominal, which are fungible with warrants issued for the sovereign operation.

This exchange is enabled through specific provisions in the 2015 Ukrainian budget law. Therefore, it represents a time limited opportunity for City of Kyiv note holders.

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Publication:Mena Report
Geographic Code:4EXUR
Date:Nov 28, 2015
Words:114
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