Creditors demand that Ukraine resume payments on Eurobonds by 2025 5 May 2024
Kyiv • UNN
The group of foreign Eurobond holders seeks to receive up to USD 500 million annually in interest payments in exchange for the cancellation of a significant portion of Ukraine's debt.
A group of foreign holders of Eurobonds is seeking to receive up to $500 million annually in interest payments in exchange for writing off a significant portion of the debt. This is reported by The Wall Street Journal, according to UNN.
Details
Ukraine is under pressure to resume payments on its Eurobonds, which represent a significant portion of its public debt. A group of private foreign holders of these bonds, which owns about 5% of the outstanding debt, has announced plans to demand that the Ukrainian authorities resume interest payments in 2025.
A group of shareholders has reportedly formed a committee and hired lawyers and bankers to negotiate with the Ukrainian government. They are seeking to reach an agreement under which Ukraine will resume interest payments in exchange for a reduction in debt. Creditors hope to receive up to $500 million annually in interest payments.
