By Libby George and Karin Strohecker
LONDON (Reuters) – Ukraine intends to include GDP warrants as part of its effort to restructure some $20 billion of international debt before payment moratoriums expire on Aug. 1, according to two sources who joined a call with the country’s Finance Ministry on Monday.
The government also told investors it still expected to succeed in its unprecedented aim of restructuring debt in the middle of a war and before the deadline, the sources said, with formal debt talks expected to restart in the near future.
Monday’s call marks part of the war-torn country’s fresh push to engage with investors after Kyiv announced a week ago that formal restructuring talks had ended without an agreement. Statements released last week showed there had been a wide gap between the 20% haircut bondholders want to give and a proposal from Ukraine that would have translated into a haircut of up to 60%.
“They believe that an agreement can be reached soon,” one of the sources said on condition of anonymity.
(Reporting by Libby George and Karin Strohecker, Editing by Chris Reese)
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