The first amount of payments on GDP warrants announced

News

The first amount of payments on GDP warrants announced

20.05.2021 News

On May 31, Ukraine will make payments for the first time on GDP warrants issued as part of public debt restructuring in 2015. This was reported by the press service of the Ministry of Finance.

The first payment will be $ 40.75 million. Taking into account the total notional or nominal amount for which GDP warrants were issued – $ 3 billion 239.32 million, the payment will be $ 12.58 for every $ 1,000 of the nominal value of these instruments.

GDP warrants were issued as part of the public debt restructuring in 2015 instead of Eurobonds worth $ 3.2 billion and are not part of the country’s public debt.

Payments for GDP warrants will be made annually in dollars, depending on the dynamics of GDP growth in Ukraine in 2019-2038.

If GDP growth for the year is below 3% or GDP is less than $ 125.4 billion, there will be no payments on paper. If the GDP growth is from 3% to 4%, the payment on securities will be 15% of the excess of GDP over 3%, and if above 4% – then another 40% excess of GDP over 4%.

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