Ukraine Short on Time for Debt Deal as Real Deadline Is August
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Ukraine and its creditors have even less time than it appears.
While Sept. 23 is the date the first Ukrainian Eurobond comes due, a restructuring agreement will need to be reached at least five to six weeks before that to allow time for the creditor group to convince other bondholders to accept the terms, make amendments and complete the eventual bond exchange, according to Exotix Partners LLP and Raiffeisen Bank International AG. Even after a 10-day grace period has been factored in for the $500 million principal payment, the real deadline for a deal is probably the middle of August, they said.