Ukraine Bank Bonds Jump Past 70 Cents as Debt Offer Seen Passing
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Bonds of Ukraine’s third-biggest bank surged past 70 cents on the dollar for the first time since January on optimism the lender will gather enough support for a debt-restructuring offer to avoid defaulting.
State Export-Import Bank of Ukraine’s $750 million of notes due next week rose 8.92 cents to 73.67 cents on the dollar at 6:01 p.m. in Kiev, the highest level since Jan. 20. That drove the premium above sovereign notes due in September to a record 23 cents. The lender put forward an offer on Monday to encourage its creditors to vote in favor of a three-month extension at a meeting on April 27, the day the notes mature.