Ukraine has transferred $ 1 billion within the $ 2 billion loan refinancing scheme agreed with the Russian VTB Bank on the loan raised in 2010, the finance minister Yuri Kolobov said.
"We have paid off ($ 1 billion). Our bonds grew by 0.5%. I think everything will be fine, we have completely paid off," he said.
Earlier this week, the first deputy finance minister Anatoly Myarkovsky reported that within the agreement with the VTB, the second half of the loan Ukraine will replace with a new issue of the external two-year bonds at 7.95% per year.
In June 2010, the VTB gave Ukraine a six-month bridge loan (before placement of sovereign eurobonds and receiving the first tranche of the IMF loan) of $ 2 billion by 6.7% per year. The VTB later ceded the right to Ukrainian loan to the VTB Capital plc, which is also the member of the VTB Group. The payment of $ 2 billion on this loan is scheduled for June 2012. The six-month loan has been extended for three times, for a total of 1.5 years.
On May 31, the finance minister of Ukraine Yuri Kolobov signed the agreement with the VTB Capital, under which Ukraine shall pay till June 6, 2012 a part of the loan in the amount of $ 1 billion (and the interests accrued on the full amount of the loan). The remainder of the loan in the amount of $ 1 billion shall be paid till June 4, 2014, the Ukrainian finance minister said last week.
"We have paid off ($ 1 billion). Our bonds grew by 0.5%. I think everything will be fine, we have completely paid off," he said.
Earlier this week, the first deputy finance minister Anatoly Myarkovsky reported that within the agreement with the VTB, the second half of the loan Ukraine will replace with a new issue of the external two-year bonds at 7.95% per year.
In June 2010, the VTB gave Ukraine a six-month bridge loan (before placement of sovereign eurobonds and receiving the first tranche of the IMF loan) of $ 2 billion by 6.7% per year. The VTB later ceded the right to Ukrainian loan to the VTB Capital plc, which is also the member of the VTB Group. The payment of $ 2 billion on this loan is scheduled for June 2012. The six-month loan has been extended for three times, for a total of 1.5 years.
On May 31, the finance minister of Ukraine Yuri Kolobov signed the agreement with the VTB Capital, under which Ukraine shall pay till June 6, 2012 a part of the loan in the amount of $ 1 billion (and the interests accrued on the full amount of the loan). The remainder of the loan in the amount of $ 1 billion shall be paid till June 4, 2014, the Ukrainian finance minister said last week.
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