Ukrtelecom is seeking to restructure its foreign debt, Reuters reports.
The Ukrainian telecoms incumbent’s chairman reportedly sent a letter to the state communications authority saying that it wanted to pay US$14m of the US$55.6m instalment due by…
Ukrtelecom is seeking to restructure its foreign debt, Reuters reports.
The Ukrainian telecoms incumbent’s chairman reportedly sent a letter to the state communications authority saying that it wanted to pay US$14m of the US$55.6m instalment due by February 25 and the rest within the following three months. The liability is part of a US$500m debt raised in 2005 with Credit Suisse and Deutsche Bank. In 2008, the company started repaying the debt twice a year.
State-owned companies such as energy firm Naftogaz and the railway Ukrzalyznitsya have already announced the restructuring of their debt, which triggered concerns over Ukraine’s debt ratings and finances.
