Ukraine started a process to exchange securities linked to economic growth into bonds as it seeks to restructure the terms of $3.2 billion debt after another round of talks with a group of private creditors.
The government in Kyiv offered to replace the so-called GDP warrants with bonds and cash and expects to close the deal by the end of the year, according to a statement on Monday. The east European nation is looking for ways to preserve financial resources for defending itself against Russia’s full-scale invasion and potential post-war reconstruction.
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