Ukraine strikes deal to restructure $20bn of debt
In return for writing off 37 cents per dollar of the old debt, bondholders will firstly receive bonds worth 40 cents of their original claim. These will restore interest payments immediately, rising from 1.75 per cent over the next year to 4.5 per cent from 2026, with later increases.
They will also receive a bond worth 23 cents, which will not pay interest for the next three years, but could increase to 35 cents if Ukraine’s nominal gross domestic product exceeds IMF targets by at least 3 per cent, and up to 7.5 per cent, in 2028.
“bondholders will firstly receive bonds worth 40 cents of their original claim.”
Wow, what super financial support Ukraine gets.
Nobody gives Russia anything. They must rent every “friend” that they have.
Not only are Russia’s foreign currency reserves running out, so are its gold reserves. Harder times ahead for Russians, because Putin.