The government of Ukraine intends to extend the maturity of all Eurobonds by 24 months, as well as to defer the payment of interest income on them for the same period, the relevant Cabinet of Ministers Resolution No. 805 of July 19 was published on its website on Wednesday.
“Transactions with public debt in 2022 are carried out until August 15, 2022 by entering into the terms of the bond issue … in agreement with the bond holders …”, the document says.
According to it, “the maturity date of each bond (and for 2017 bonds ⸺ each maturity date of a portion of the 2017 bonds) is deferred for a period of 24 months from the respective final maturity date of the bonds.”
“All interest payment dates on post-deal bonds are deferred for a period of 24 months from each relevant interest payment date (and for 2018 Series 1 bonds ⸺ all interest payment dates on these bonds are deferred for a period from August 1, 2022 d.),” the resolution reads.
During these 24 months, interest income on the bonds continues to accrue at existing rates, and additional interest income is accrued on the amount of accrued basic interest income at the same rates.
“At any time during the specified delay, the total amount of accrued basic interest income and additional interest income (the amount of income of holders) on the basis of a separate decision of the Cabinet of Ministers of Ukraine may be paid to bondholders in part (or) in full,” the document says.
Likewise, at the end of the said deferral, the unpaid amount of the holders’ income at that time may be paid to the holders in full or by additional issue of the relevant bonds.
“The amount of income of holders is calculated by the Ministry of Finance, taking into account, in particular, information provided by business entities engaged by the Ministry of Finance to provide agency, advisory or other services in connection with transactions, and cannot exceed $ 3,000 million (together for all bonds paid in dollars USA) and 300 million euros (jointly for all paid in euros),” the resolution says.
Turkey showed interest in the Ukrainian An-178 aircraft, this issue was discussed at a meeting of Interior Minister of Ukraine Arsen Avakov and Interior Minister of Turkey Süleyman Soylu.
“Our An-178 aircraft is presented at the modern technology exhibition in Istanbul, which we are honored to attend. The Ministry of Internal Affairs of Ukraine plans to purchase 13 such aircraft for the State Emergencies Service to eliminate fires and for the National Guard. I hope the Turkish side will pay attention to our An-178,” the press service of the Ministry of Internal Affairs quoted Avakov as saying.
In turn, the Turkish interior minister praised the An-178 and expressed interest in this aircraft.
“The An-178 is a very good aircraft. In addition, our Mi-17 helicopters are being modernized in Ukraine, six of which we have already received. For us, this is an example of very successful cooperation with you,” Soylu said.
Avakov invited him to visit Ukraine. “I really hope that you will visit Ukraine at the end of the month. We will have large-scale exercises that you should see. In addition, I will show you new modernized models of the Mi-8 helicopter. And Airbus will present the helicopters that they supply for the Ministry of Internal Affairs of Ukraine,” he said.
In response, Soylu suggested that he would most likely come to Ukraine.
The multi-purpose transport aircraft An-178 was developed at the Antonov state-owned enterprise, which is part of state-run Ukroboronprom. About 200 companies from 15 countries are involved in production cooperation under the An-178 program.
The flight altitude of the An-178 is 12 km, the range is 5,500 km, and the maximum speed is 825 km/h. The aircraft has a modified fuselage shape, a ramp for loading and unloading oversized cargo and is capable of transporting up to 18 tonnes of cargo, including heavy sea containers. It can land and take off from any airdromes, including unpaved ones.
The An-178 made its first flight on May 7, 2015. In July 2018, Ukroboronprom presented the An-178 at the Farnborough Airshow international aerospace show, where the aircraft performed a demonstration flight.
Secretary of the National Security and Defense Council of Ukraine Oleksandr Danyliuk has said that he is interested in the post of Prime Minister of Ukraine.
“I won’t lie that I am interested,” Danyliuk said in an interview with TSN.Tyzhden, answering the question whether he is interested in the position of the head of the Ukrainian government in the future.
In turn, the journalist noted that Dmytro Razumkov, the leader of the Servant of the People Party, could claim the post of prime minister.
“There are many of those who want it. But that is not the point,” answered the Secretary of the National Security and Defense Council.
The issues of deepening cooperation in the economic sphere have been discussed in Kyiv by Secretary of State of the Ministry of Foreign Affairs of Norway Audun Halvorsen and Deputy Prime Minister for European and Euro-Atlantic Integration of Ukraine Ivanna Klympush-Tsintsadze. Halvorsen noted that Norwegian investors had positively assessed the development of the business environment in Ukraine and optimistic expectations of investors should be supported by confidence, since the most important characteristic of the country for investment is predictability, the government portal reported on Tuesday.
Several positive business cases are immediately a signal for other investors, the first pave the way for the next, added the Secretary of State of the Ministry of Foreign Affairs of Norway. According to him, Norwegian investors are most interested in the energy sector of Ukraine, in particular, in investing in “green” energy and energy efficiency.
Halvorsen also said that Norway would actively participate in the International Conference on Reforms in Ukraine, which will be held in Copenhagen on June 27, and is also ready to further deepen cooperation with Ukraine in various areas of bilateral relations.
In turn, Klympush-Tsintsadze noted that Norway’s support for Ukraine is concrete and practical, and such relations are the basis for further deepening of bilateral relations.
The sides also briefly discussed the visit to Ukraine of Norwegian Foreign Minister Ine Eriksen Soreide planned for the second half of the year, as well as the visit of the newly appointed President of the Norwegian Storting, Tone Wilhelmensen Troen, scheduled for September.
Foreign investors actively study materials, come to look at assets and meet with owners, which is evidence of gradual resumption of the interest to Ukrainian assets, according to the 18th edition of the Ernst & Young Global (EY) Capital Confidence Barometer (CCB). “So, we should hope for the return of foreign investors to the capital market of Ukraine,” EY said in the press release. EY conducts CCB study twice a year. Over 2,500 senior executives across 43 countries took part in it. More than half of respondents (52%) indicate that they plan to acquire in the next 12 months. The number of executives expecting to complete more deals in the next year has more than doubled (67% in April 2018 versus 33% in April 2017). According to the analysts, this shows trends of rising economic and corporate confidence.
According to the press release of EY, although the global level of activity of mergers and acquisitions has already exceeded the peak period set before the financial crisis in 2007, Ukraine is still lagging behind in terms of investment activity. However, it shows a positive trend: foreign investors, who before the crisis invested money in the Ukrainian business, for the first time since 2014 begin to compete with local companies for attractive assets.
This was thanks to the fact that Ukrainian companies owned by foreign investors joined Ukrainian companies, which are fully owned by local businessmen, since 2017.
Ukraine and Malaysia are working out plans to expand bilateral military and technical cooperation, and the Malaysian side shows its interest in procurement and joint production of a wide range of Ukrainian weapons, the press service of the Ukroboronprom State Concern reported on Tuesday.
According to the report, military and technical cooperation between Ukraine and Malaysia became the subject of negotiations between Ukroboronprom Head Pavlo Bukin and Malaysia’s top military leadership, which were held as part of the 16th Defense Services Asia 2018 (DSA) exhibition, which is taking place in Kuala Lumpur (Malaysia) on April 16-19.
According to the report, Bukin, in particular, held a meeting with Chief of Army General Tan Sri Dato Zulkiple Bin Hj Kassim during which they discussed the possibility of supplying the Malaysian side with Ukrainian-made 4×4 combat vehicles. During the talks, the chief of the Malaysian army expressed his country’s interest in acquiring Ukrainian ATGMs from Luch Design Bureau. At the same time, the sides stressed the need to intensify the work of the bilateral commission on military and technical cooperation, the report says.
Bukin also held talks with Chief of Navy Admiral Tan Sri Ahmad Kamarulzaman Hj Ahmad Badaruddin, during which they discussed the possibility of supplying to Malaysia the floating docks manufactured by Pallada Kherson State Plant, part of Ukroboronprom, as well as the possibility of establishing cooperation for their production with a Thai manufacturer.
In addition, as part of the exhibition, Bukin met with Commander of the Royal Malaysian Air Force General Dato Seri Affendi Buang.
“The sides discussed a range of issues on cooperation in the field of aircraft building. In particular, they talked about the possibility of supplying to Malaysia the Antonov airplanes with the possibility of localization of production facilities. A separate topic of the talks was also the possibility of supplying Ukrainian vertical take-off and landing UAVs to the Malaysian side,” the report says.
