Economics
Ukraine Debt Deal Shows Cracks Emerging in Russia Bond Strategy
- Russia bond excluded from better terms for notes maturing 2015
- Bondholders prepare to vote on debt restructuring by Oct. 14
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Ukraine’s policy of treating all bondholders equally is starting to show cracks where the $3 billion owed to Russia is concerned.
After months of insisting that the war wouldn’t stop Ukraine handling Russia just like any other foreign bondholder, the government in Kiev agreed to a sweetened deal last week for all other holders of Eurobonds maturing this year. Russia, for its part, has refused to negotiate, demanding payment in full on its note due in December.