Ukraine Bonds Slide With Writedown Said to Be More Than Expected

Ukrainian Eurobonds fell to a one-month low after the nation was said to be discussing a larger principal writedown with creditors than expected by some investors.

Ukraine and bondholders are considering a 20 percent cut to face value as part of a restructuring deal with bondholders, according to a person with knowledge of the negotiations who declined to be identified because the details are private. The country’s $2.6 billion of notes due July 2017 slid 1.39 cents to 54 cents on the dollar at 5:01 p.m. in Kiev, the lowest level since July 21. They have rallied from as low as 42 cents in March.