Ukrzaliznytsia settles debt repayment with Sberbank

Ukrzaliznytsia (UZ) has finalised an agreement to partially reschedule its debt repayment to Sberbank (Ukraine).

"The revised debt repayment schedule postpones majority of the debt maturing in May-end till the end of 2021 leading to a significant balancing of cash flows and liquidity of Ukrainian Railways," the company says in a statement.

It is noted that the agreement was concluded with the lender on approved terms with a gradual reduction of interest rate.

"The company reserves its right to refinance outstanding debt to Sberbank (Ukraine) by raising financing from one of the sources at its disposal subject to market conditions in future at any time," the message reads.

As marked by Ukrzaliznytsia, the debt management agreement was enabled by well-coordinated and constructive cooperation with the lender, also helped by the National Bank and the Ministry of Finance of Ukraine, and implementation of measures in order to reduce the negative impact of the pandemics on the national transport sector of the economy.

Ukrzaliznytsia owns 11,481 grain-hopper railcars which makes the company the largest rail logistics operator.

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