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Ukraine (Min of Fin) (IRSH)

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Friday 14 August, 2020

Ukraine (Min of Fin)

Notice to Noteholders

RNS Number : 2423W
Ukraine (Ministry of Finance)
14 August 2020
 

Ukraine Announces Completion of the Open-Market Repurchase of its GDP-Linked Securities Expiring 31 May 2040

 

NOT FOR PUBLIC RELEASE, PUBLICATION OR DISTRIBUTION, DIRECTLY OR INDIRECTLY, IN OR INTO ANY JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION OF THE RELEVANT LAWS OF SUCH JURISDICTION

 

As highlighted in the Medium-Term State Debt Management Strategy for 2019 - 2022 published by the Ministry of Finance, Ukraine's debt management strategy includes pro-active liability management operations in order to smoothen Ukraine's state debt service profile and reduce peak pressure on the state budget. Such liability management operations may involve the buyback of government securities, subject to favourable market conditions. Consistent with its previously announced liability management strategy, the Ministry of Finance has initiated a liability management exercise consisting of the open-market repurchase of its GDP-linked securities expiring 31 May 2040 (the "GDP-Linked Securities"). As at 14 August 2020, the Ministry of Finance has successfully instructed the repurchase of approximately 10 per cent. of the total notional amount of GDP-Linked Securities outstanding. The Ministry of Finance has no current intension to resell such securities.

 

In connection with the continued execution of Ukraine's debt management strategy, the Ministry of Finance may undertake, at any time and from time to time, the repurchase, cancellation or exchange of additional outstanding securities of Ukraine, including the GDP-Linked Securities, in open-market purchases, privately negotiated transactions or otherwise depending on prevailing market conditions. If such repurchases are undertaken, the amounts of GDP-Linked Securities or other securities targeted in any such exercises may be material.

 

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This announcement is not an offer of securities for sale in the United States and securities may not be offered or sold in the United States absent registration or an exemption from registration. The GDP-Linked Securities may not be sold in the United States absent registration or an exemption from registration under the U.S. Securities Act of 1933, as amended. Ukraine does not intend to register any of the GDP-Linked Securities in the United States or to conduct a public offering of the GDP-Linked Securities in the United States.

 

This announcement does not constitute an offer of securities to the public in the United Kingdom. No prospectus has been or will be approved in the United Kingdom in respect of the GDP-Linked Securities. This announcement is being distributed to and is directed only at (i) persons who are outside the United Kingdom or (ii) persons who are investment professionals within the meaning of Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the "Order") and (iii) high net worth entities, and other persons to whom it may lawfully be communicated, falling within Article 49(2)(a) to (d) of the Order (all such persons together being referred to as "Relevant Persons"). Any investment activity to which this announcement relates will only be available to and will only be engaged with, Relevant Persons. Any person who is not a Relevant Person should not act or rely on this announcement or any of its contents.

 

This announcement is not an advertisement of securities in Ukraine, and is not an offer or invitation to, or solicitation of, any such circulation, distribution, placement, sale, purchase or other transfer of the securities in the territory of Ukraine. It is not intended to be and must not be publicly distributed in or into Ukraine.

 

This announcement has been issued through the Companies Announcement Service of Euronext Dublin.


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