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        is ready to accept offers of additional 2022 notes in an amount of up to $15.95mn. In this way, following the early tender offer, the bank will purchase $300.00mn of the 2025 and 2022 notes for a total amount of $312.86mn. Taking into account that the late tender price for the 2022 notes will be lower than the early tender one, we do not expect any significant amount of offers by the late deadline on November 23. Therefore, following its tender offer, the bank is likely to reduce the total amount of its bonds outstanding by about $300mn, which is in line with its initial plan. In this way, the bank will reduce its amortization payments on these notes by $178mn in 2021, $55mn in 2022 and a total of $67mn in the next three years.
 59​ UKRAINE Country Report​ December 2020 ​ ​www.intellinews.com
  
































































































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