The National Bank is expanding opportunities for Ukrainian companies to transfer funds from Ukraine within their holding structures for coupon payments on eurobonds issued by the group, particularly those issued through SPVs (special-purpose vehicles), starting December 21.
"The NBU has updated regulations allowing Ukrainian companies to reimburse non-residents for expenses incurred from coupon payments on eurobonds," - the regulator stated in a press release on Friday.
"The regulations have been optimized so that all Ukrainian companies that raised funds to finance projects in Ukraine through eurobond issuance have equal opportunities for reimbursement to non-residents," - explained the National Bank regarding the essence of this new step in currency liberalization, which involves adding previously used options for structuring eurobond issuance and financing Ukrainian companies through them.
The NBU reminded that such transfers can be made by legal entities using their own foreign currency funds.
As before, the maximum amount of dividend payments from Ukraine to a non-resident company is limited to the total interest income from eurobonds that was actually paid to their holders from the onset of the full-scale invasion until April 30, 2024, minus the amounts of transfers made after May 4, 2024.
Additionally, the regulator has permitted jewelry manufacturers (both legal entities and individual entrepreneurs) to buy and sell banking metals without physical delivery for non-cash hryvnias, provided they can document their activity in this area prior to the full-scale invasion.
The central bank hopes that this step will ensure more stable operations for domestic producers in the jewelry sector, reduce their production costs, and decrease the import of finished products.
The NBU has also eased the conditions for currency purchases for nuclear facility operators: starting December 21, the volume of foreign currency remaining from funds received before October 31, 2024, under a loan agreement with a non-resident lender will not be considered.
"The goal of these changes is to maintain the uninterrupted supply of nuclear fuel, which is crucial for the operation of nuclear power plants, and consequently for the energy security of Ukraine," - notes the central bank.
The NBU asserts that these changes will not negatively impact the currency market but will increase the likelihood of new capital inflows into Ukraine.