Ukraine Creditors Brace for Tougher Talks After Ukreximbank Deal
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Ukraine bondholders will probably have a tougher time in the next round of debt restructuring talks than creditors of the nation’s third-largest bank.
State Import-Export Bank of Ukraine awarded creditors higher coupon payments and guaranteed to pay principal in full to avert default on $750 million of bonds due Monday. The price of Ukraine’s sovereign Eurobonds suggests holders will have to accept as much as a 50 percent cut to face value, according to Citigroup Inc.’s Ivan Tchakarov.