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finance.yahoo! | With moratorium, Ukraine risks demand for immediate payment on all bonds (12.06.15)
"Bondholders, led by Franklin Templeton, have declared themselves "deeply concerned" with Finance Minister Natalia Yaresko[!]s threat to call a moratorium on foreign debt payments if restructuring talks drag on into the summer."
archive Jun 11th 2022

ft | Ukraine creditors form committee as Kyiv seeks debt restructuring, 16 Apr junk bond

Ukrainian bonds covered by the committee include $17bn in US dollar securities and €2.25bn in euro debt, with maturities ranging from this year to 2035. The names of members of the group have not been disclosed. The bonds currently trade at highly distressed levels of about 25 to 30 cents per dollar of original face value.
"When we agreed the moratorium in 2022, there was ability to pay but obviously a national need to preserve resources," one bondholder said. "Now we know the debt is unsustainable, it doesn't make sense to kick the can down the road."
archive rating action, sell something like a CDO

babel.ua | WSJ: Ukraineʼs foreign creditors want to resume payments on the national debt as early as 2025, 5 May net present value calculated risk

The group, which holds about a fifth of Ukraineʼs $20 billion in outstanding Eurobonds, recently formed a committee and hired lawyers and bankers to negotiate. Creditors want Ukraine to strike a deal to resume payments in exchange for writing off much of the countryʼs outstanding debt. Some of the groupʼs bondholders discussed these plans with senior officials in Kyiv.
At the same time, the US and its allies are concerned that taxpayer money will end up in the hands of bondholders if Ukraine resumes any debt service. The [G7] countries agreed to give Ukraine a debt holiday worth about $4 billion of its own loans until 2027 and expressed concern that bondholders could start receiving payments earlier than they do. The WSJ says that without a deal, Ukraine could default after the debt holiday ends in August.

Bondholders hope to receive up to $500 million in annual interest payments [from WHOM?] after agreeing to write off [!?] the debt. They have made it clear that they may be willing to provide further debt relief at a later date.

archive  balance sheet "accountability", "high-quality securities" and "ficticious assets"

m'k. What are the vigilantes fighting for? UA.gov and sanctioned RU eNTiTY bonds are worthless. The odds that some  UA commercial paper comprise "immobilised" Russian assets are not disclosed. What's left?

by Cat on Sun May 5th, 2024 at 10:00:18 PM EST
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