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Ukraine has to repay USD 30 billion of debts in nearest future

Posted by the Editor on February 25, 2011

News / 25 February 2011 | 16:16

Ukraine has to repay USD 30 billion of debts in nearest future

Ukraine has to repay USD 30 billion of debts in nearest future

The Ukrainian government in 2011-2014 has to send payments on the state debt at almost USD 29.9 billion, the Eurobond issue prospectus says, UKRINFORM reports.

According to the document, a renewed schedule of government obligations fulfillment provides for debt payments in 2011 to the amount of USD 10.06 billion, which is the highest leverage in the nearest four years.

In the prospectus, also data are cited about expected monthly payments on foreign debt in 2011: peak expenses are planned for March (USD 867.2 million), September (USD 246.8 million) and December (USD 2.845 billion).

It is notable that a plan of calculations on the state foreign debt provides for allocation in June 2011 the necessary funds for repayment of debt to VTB Capital (USD 2 billion): in December 2010 the term of the loan use was prolonged only for six months.

To remind, the Russian VTB in June last year extended a six-month bridge loan at USD 2 billion under 6.7% annual (prior to placement of sovereign Eurobonds and receipt of the first tranche of the International Monetary Fund).

The credit can be prolonged three times for the maximum period of two years. At the same time, for every prolongation period a new interest rate will be in effect, agreed by the parties.

Later, the VTB assigned its rights on the credit to Ukraine to VTB Capital, which also is included into the VTB group.


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