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(Restricted Default), ​the agency said on its website. "We have also affirmed DTEK's U.S. dollar eurobond senior unsecured rating at 'C' with a Recovery Rating of 'RR5'," it said. "DTEK's Fitch-calculated debt at end-2020 was about $ 2.3 billion (UAH 65 billion), of which about $ 2 billion (UAH 57 billion) falls under restructuring. DTEK plans to finalist the restructuring by end-April 2021. The affirmation reflects DTEK's continued negotiation with lenders on restructuring the company's existing debt. Once completed, Fitch will re-rate the company based on the new capital structure while considering its business risk," according to the document.
In November 2019, DTEK Renewables was the first company that placed Ukraine’s first ‘Green Eurobonds’​ after a roadshow with meetings with more than 50 international investors — 325mn euro worth of 5-year bonds at a rate of 8.5% per annum, UBN reported.
To get its own house in order, DTEK Energy plans to swap its $1.67bn debt for new Eurobonds by May​, Timchenko said of the company’s bond and bank debt restructuring. “It will be a public instrument with a yield of 5% this year, and 7% starting next year until the end of 2027. It will take three months legally [to complete] this process.”
51​ UKRAINE Country Report​ March 2021 ​ ​www.intellinews.com