Ukraine Offers to Replace Growth-Linked Warrants With Bonds
The NATO sign, EU flags and Ukrainian flags as smoke rises from a fire at the Cabinet of Ministers building after a Russian air strike in Kyiv on Sept. 7.
Photographer: Andrew Kravchenko/BloombergUkraine started a process to exchange securities linked to economic growth into bonds as it seeks to restructure the terms of $3.2 billion in debt after another round of talks with a group of private creditors.
The government in Kyiv offered to replace the so-called GDP warrants with bonds and cash and expects to close the deal by the end of the year, according to a statement on Monday. The east European nation is looking for ways to preserve financial resources for defending itself against Russia’s full-scale invasion and potential post-war reconstruction.