Kyiv city Council has approved the restructuring of Eurobonds for $101,15 million this reports the press service of the Council in the newspaper Khreshchatyk.
The terms of restructuring involve the interest rate on the Eurobonds is not above 7.5% per annum and cushioning mechanism of repayment. Principal repayments will occur in four equal tranches: 15 Jun 2021 15 Dec 2021 15 Jun 2022 15 Dec 2022.
The accrual and payment of interest will be implemented every six months. In addition, interest income that has accrued during the moratorium on the servicing of securities will be capitalized. It will add to the principal amount of the debt.