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According to Reuters, Ukraine's commissioner for state debt management, Yuriy Butsa, along with the country's financial advisers White & Case and Rothschild & Co, as well as experts from the International Monetary Fund (IMF), participated in the negotiations.
Negotiations entered their second round in Paris on July 16. At first, the Ukraine's bondholders requested that the country restart payments on its debts, provide a quicker way to repay the main debt, and avoid making the payment process difficult.
Butsa's team affirmed that there is nothing like the GDP-warrants used in the 2015 restructuring available in the country. In the past, Kiev had to forego a large portion of its economic expansion whenever nominal GDP surpassed $125.4 billion and annual growth hit 3%.
Alternatively, Ukraine proposed GDP-linked bonds, with creditors receiving immediate coupon payments ranging from 1.75% to 7.75%. According to Reuters, bondholders were pleased with the result, as the agreement received 97% support.
source: reuters.com
Negotiations entered their second round in Paris on July 16. At first, the Ukraine's bondholders requested that the country restart payments on its debts, provide a quicker way to repay the main debt, and avoid making the payment process difficult.
Butsa's team affirmed that there is nothing like the GDP-warrants used in the 2015 restructuring available in the country. In the past, Kiev had to forego a large portion of its economic expansion whenever nominal GDP surpassed $125.4 billion and annual growth hit 3%.
Alternatively, Ukraine proposed GDP-linked bonds, with creditors receiving immediate coupon payments ranging from 1.75% to 7.75%. According to Reuters, bondholders were pleased with the result, as the agreement received 97% support.
source: reuters.com