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RESOLUTION OF THE CABINET OF MINISTERS OF UKRAINE

of December 23, 2020 No. 1291

About implementation of the state external borrowings in 2020 by attraction of the credit

For the purpose of accomplishment of the Law of Ukraine "About the Government budget of Ukraine for 2020" the Cabinet of Ministers of Ukraine decides:

1. Perform the state external borrowings in 2020 by attraction of the credit from Deutsche Bank AG.

2. Approve the Main conditions of implementation of the state external borrowings in 2020 by attraction of the credit from Deutsche Bank AG which are applied.

3. To the Ministry of Finance to provide in time of creation of the draft of the Government budget of Ukraine for the corresponding year of means for repayment and servicing of the state external borrowings performed in connection therewith by the resolution.

Prime Minister of Ukraine

D. Shmygal

Approved by the Resolution of the Cabinet of Ministers of Ukraine of December 23, 2020 No. 1291

The main conditions of implementation of the state external borrowings in 2020 by attraction of the credit from Deutsche Bank AG

1. The state external borrowings are performed in 2020 by attraction of the credit for the total amount which is not exceeding 350 million US dollars (further - the credit) and are provided according to the credit agreement between Ukraine, Deutsche Bank AG and Global Loan Agency Services Limited (further - the credit agreement), in the limits provided by the Law of Ukraine "About the Government budget of Ukraine for 2020".

2. On credit amount interest income which consists from is charged:

rates of LIBOR (The London interbank offered rate) in US dollars for the term of three months;

credit margins in the amount up to annual interest rate 5,75.

3. Interest income is paid each three months after the date of receipt of borrowing facilities according to conditions of the credit agreement.

4. Final loan repayment is performed in six months after the date of receipt of borrowing facilities according to conditions of the credit agreement.

Early repayment of the credit is performed in the cases provided by the credit agreement, in particular:

in case of change of market price of bonds of external state loans of Ukraine on the conditions determined by the credit agreement;

in case of implementation of additional or new bond issue of external state loans of Ukraine on the conditions determined by the credit agreement.

5. Repayment and servicing of the credit is performed at the expense of the means provided by the law on the Government budget of Ukraine for the corresponding year.

6. Other conditions of attraction of the credit are determined by the corresponding credit agreement and other documents connected with attraction of the credit.

 

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