Ukraine and a group of investors have reached an agreement on the country's proposal to exchange its GDP-linked securities for a new class of bonds, concluding months of negotiations over these securities, UNN reports with reference to Bloomberg.
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Ukraine's Ministry of Finance announced on Tuesday that the country had reached an agreement on the terms of the invitation with the so-called ad hoc group of warrant holders.
The group, which includes hedge funds Aurelius Capital Management LP and VR Capital Group, demanded more favorable terms. In a separate statement, Ukraine confirmed its support for the terms of the amended agreement.
Their support now paves the way for the exchange of GDP-linked warrants for new Class C bonds worth up to $3.2 billion. The warrants were not included in last year's $20 billion debt restructuring due to their complex structure and potentially large payouts from post-war economic recovery.
Ukraine's bonds, due in 2041, recouped previous losses and rose more than 1 cent per dollar, exceeding 101 cents.
Ukraine's bonds lead the market amid peace efforts - Bloomberg07.08.25, 14:45