Terms for bond issue approved
11 July 2013 the Cabinet of Ministers of Ukraine approved the conditions for issue of bonds of the State Agency of Automobile Roads of Ukraine (Ukravtodor) to attract additional funds for the construction of road infrastructure in the amount of 5 billion UAH, informs the press service of the Ministry of Infrastructure.
Relevant changes were made to Resolution of the Cabinet of Ministers of Ukraine of 3 July 2013 № 479 and will become effective upon official publication.
Ukravtodor together with the Ministry of Infrastructure prepared amendments to Resolution of the Cabinet of Ministers of Ukraine dated 3 July 2013 № 479 providing for the possibility of attracting borrowed funds through issue of Ukravtodor bonds on such terms:
- The total nominal value - 5 billion UAH;
- Maturity - 7 years;
- Interest rate - 14.3% per annum.
«Previous Resolution of the Cabinet of Ministers provided for guarantees on the State Agency's borrowings for 5 billion UAH. However, the resolution did not include the possibility of issuing Ukravtodor's securities, including bonds. Today the Government has adopted amendments to the Resolution that the Ministry of Infrastructure proposed last week, which expands possibilities in of attracting additional investment in the development of Ukrainian roads «, said the Minister of Infrastructure of Ukraine Volodymyr Kozak.
Amendments to Resolution of the Cabinet of Ministers of Ukraine dated 3 July 2013 № 479 will allow Ukravtodor to raise additional financial resources promptly and continue the implementation of reconstruction and development of roads in Ukraine.
