NPC Ukrenergo has completed the restructuring of its sustainable development Eurobonds issued in 2021. As a result, the company will save about $135m, which it plans to channel into restoring damaged power grids and strengthening energy infrastructure.
First Deputy Prime Minister and Minister of Energy of Ukraine Denys Shmyhal reported this.
Following the restructuring, the total amount of claims under the Eurobonds was reduced to $494.75m, with an annual interest rate of 8.6% and final maturity in 2041.
In addition, the company issued new unsecured bonds worth $395m, with an annual interest rate of 8.5% and maturity in 2031. The transaction was supported by holders of 97.49% of the Eurobonds.
As Shmyhal noted, the restructuring was made possible, among other things, thanks to a government resolution providing a state guarantee for the company, adopted at the proposal of the Ministry of Energy.
The restructuring is expected to make it possible to allocate more funds to restoring power grids damaged by Russian attacks, as well as to reduce the burden on the tariff for electricity transmission services.
According to the minister, this decision strengthens Ukrenergo’s financial resilience and creates additional opportunities to restore and protect Ukraine’s energy infrastructure.