The Ministry of Finance of Ukraine supports the exchange
offer made by Public Joint-Stock Company “Ukrainian Railway” for its
U.S.$500,000,000 9.5% Loan Participation Notes due 2018 (the “Notes”).
If the proposed resolution approving the exchange offer is
approved, Noteholders will receive new Loan
Participation Notes maturing in 2021, subject to certain amortisation payments,
with a 9.875% coupon.
The commercial terms of this reprofiling
were agreed with an ad hoc committee of certain holders of the Notes, which
expressed their support for the reprofiling on the
terms set out in the press release dated 9 December 2015. The proposed reprofiling of the Notes is also consistent with the
financing requirements of Ukraine's IMF Extended Fund Facility.