The Finance Ministry of Ukraine has paid a $39.75 million coupon on the two-year eurobonds that were floated in August 2012 to refinance the debt to VTB Bank worth $1 billion.
The ministry said that the funds were borrowed at 7.95% per annum.
The next large foreign payment will be carried out on June 11: the government is to pay back 10-year eurobonds worth $1 billion issued in 2003 at 7.65%.
According to the state treasury, since the start of the year and as of June 3, 2013 the state had borrowed Hr 70.96 billion, including Hr 52.98 billion on the domestic market with a five-month target of Hr 77.71 billion and the six-month target of Hr 83.3 billion.
Some Hr 12.08 billion (Hr 8.34 billion for the domestic debt) were spent on servicing the debt over the period, with a five-month target of Hr 13.22 billion and a six-month target of Hr 15.88 billion, while Hr 26.84 billion (Hr 15.26 billion) was spent on paying back the principal of the loans, with the five-month target being Hr 31.66 billion and the six-month target of Hr 40.34 billion.
According to the medium-term strategy for the state debt management for 2013-2015, Ukraine plans to increase state borrowing by 31.7%, to Hr 135.5 billion, with the share of domestic borrowing being 68.6%.
The Cabinet of Ministers predicts that payments on the state debt will grow to Hr 116.1 billion, including Hr 35 billion on debt servicing.
