The Ukrainian Railways public joint-stock company (Ukrzaliznytsia) will pay about USD 40 million as the yield on its Eurobonds in 2017, First Deputy Minister of Infrastructure Yevhen Kravtsov announced.

"Ukrzaliznytsia will pay the annual interest on the USD 500 million it attracted in 2017 as funding," said Kravtsov.

Ukrzaliznytsia board member Oleksandr Buzhor recently informed the mass media that the railway company spent UAH 3.4 billion on debt servicing. According to him, these funds were generated by raising freight transport rates.

As reported, Ukrzaliznytsia notified its creditors of a technical default on certain debt obligations in May 2015.