The Ministry of Finance, together with Ukravtodor and the Yuzhnoye State Design Office, have agreed in principle with Sberbank of Russia on the restructuring of sovereign guaranteed loans to Ukravtodor and Yuzhnoe State Design Office.
The parties have agreed to work together to achieve a settlement of the transaction as soon as possible.
The Ministry of Finance welcomes this agreement with Sberbank, which is in line with its IMF-supported EFF Program. The Ministry is continuing to discuss the restructuring of other outstanding guaranteed loans within the perimeter of the debt operation.
The Ministry of Finance reiterates its readiness to continue negotiating in good faith the restructuring of the December 2015 US$3bn bonds.