Ukrainian Railways on track to restructure 2018s

By Virginia Furness
21 Jan 2016

Ukrainian Railways (Ukrzaliznytsia) is a step closer to restructuring its $500m of bonds due 2018 and will seek agreement from investors at a meeting on February 17.

Ukrainian Railways, which issued the 2018 notes in May 2013 is asking investors to approve a coupon increase from 9.5% to 9.875% and an extension of the maturity to September 15, 2021 from May 21, 2018.

It needs investors holding two-thirds of the bonds to accept the ...

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