In 2016 Corporation issued Eurobonds and made early redemption of Eurobonds issued in 2012 with initial placement of USD 250 million.  

Maturity date of reissued Eurobonds was April 2021 and initially redemption of the latter was planned via new issuance of Eurobonds. 2020 pandemic outbreak caused uncertainty on international financial markets. As a result, refinance of Eurobonds via reissuance was impossible for Corporation (during that period, before stabilization on financial markets such transactions mostly did not occur, except few placements with unattractive/worsened terms, as investors required higher return due to increased risks).

Therefore, in order to secure repayment of Eurobonds at maturity, Corporation started working on alternative sources of Eurobond refinance. One of the alternatives intended to attract loan facilities from international financial institutions/banks. With the effort of investment team of Corporation involved in negotiation process with international financial institutions in September 2020 loan agreement was signed with European Bank for Reconstruction and Development (EBRD) with improved loan terms in comparison to 2016 Eurobond terms which enables Corporation to reduce its debt service costs.

Loan facilities received from EBRD were utilized by Corporation in April 2021. As a result, liabilities related to Eurobonds issued in 2016 were fully covered.