Ukravtodor and Yuzhnoye State Design Office $376 million restructuring

Overview:

• Ukranian state-owned firms Ukravtodor and Yuzhnoye State Design Office have completed the restructuring of $367.4 million of state-guaranteed debt with Sberbank.
• The conditions of the restructuring saw the two companies exchanging 100% of their debt for Ukranian securities worth $376 million, 75% of which are Eurobonds to be repaid in 2019 and 25% that are notes with payments that are linked to Ukraine’s GDP.
• Ukravtodor is the state governing body for roads in Ukraine, supervised by the Ministry of Transportation and Communications.
• Yuzhnoye State Design Office is a designer of satellites and rockets.

Jon Moore - Journalist