Deals
Pioneer Ready to Buy Ukraine Bonds in Benign Debt Revamp Bet
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For Pioneer Investment Management Ltd., bad news is good news as far as Ukraine’s debt restructuring goes.
The fund has been buying Ukrainian Eurobonds and is waiting for some weakness in the securities before adding to its positions, according to Yerlan Syzdykov, the head of emerging-market debt at the $241 billion fund. While he expects further disagreement between Ukraine and its creditors, and maybe even a temporary freeze on payments, he’s betting the two sides will eventually agree on a 15 percent principal writedown in September.