Lengthy negotiations concluded: Ukraine and investors agree to exchange GDP warrants for bonds
Kyiv • UNN
Ukraine has reached an agreement with a group of investors to exchange GDP warrants for a new class of bonds. This paves the way for the exchange of warrants worth up to $3.2 billion for Class C bonds.
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.
Details
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 • 3269 views