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

11/26/15

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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