The EBRD is buying $100 million worth of five-year Eurobonds issued by Ukraine Railways (UZ) with an annual yield of 7.29%,

The EBRD is buying $100 million worth of five-year Eurobonds issued by Ukraine Railways (UZ) with an annual yield of 7.29%, reports the new Infrastructure Minister, Vladyslav Krykliy. The placement comes two months after the railroad sold $500 million worth of five-year bonds to commercial investors at 8.25%. Evhen Kravtsov, the railroad’s CEO, says the money will go primarily to upgrade the main lines of the Trans-European Transport System: “Now it’s the turn of the railroad tracks. Firstly, it’s safety, secondly, we’ll increase the throughput, and thirdly, it’s the ability to increase speed in separate sections for both freight and passenger trains.”