UKRAINIAN DTEK AGREES ON EUROBONDS AND BANK DEBT RESTRUCTURING TERMS WITH COMMITTEE OF CREDITORS

DTEK Energy has agreed terms for the restructuring of Eurobonds and large bank debt with Eurobond creditor-holder committees and banks, the group’s press office said.
The company notes that the completion of the restructuring will ensure the stable operation of the company in the long term, a flexible mechanics of debt service, taking into account the financial forecasts and an unstable external environment.
DTEK’s Director of Strategy and Finance, Oleh Tymkiv, whose comment is given in the report, said that DTEK was building the trading process “like a reliable partner fulfilling its obligations”.
“This has helped to maintain constructive relationships and balance the company’s loan management capabilities and continued development,” he said.
According to him, during the negotiation process, DTEK was able to ensure that creditors fully understood the consequences of the crisis caused by the COVID-19 pandemic, both on the country’s economy and on the energy industry.
“This was reflected in their balanced constructive position, mainly aimed at finding a compromise solution. As a result, we managed to secure the best terms for both sides of the new deal,” Tymkiv summed up.

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BANK DEBT, DTEK, EUROBOND, RESTRUCTURING