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Ukraine Debt Given Final Value of 80.625% at Swaps Auction

  • Pricing in line with market valuation for Ukraine's bonds
  • Auction clears way for investors to vote in restructuring deal
Updated on

Sellers of credit-default swaps on Ukraine may have to pay 19.375 cents on the dollar to settle insurance contracts covering bonds in the country’s $18 billion debt restructuring, according to auction results.

Traders set a final price of 80.625 percent of face value for the 14 sovereign and state-backed notes in Ukraine’s debt overhaul, according to administrators Markit Group Ltd. and Creditex Group Inc. The final price is 1 percentage point higher than the initial price set at the first round of bidding earlier in the day and compares with bond prices as low as 38 cents on the dollar in March, before Ukraine started negotiations with its creditors.