Ukraine – A group of foreign bondholders is planning to pressure Ukraine to start paying interest on its obligations no later than 2025, the Wall Street Journal reported, citing informed sources.
One of the sources told the newspaper: “A group of foreign bondholders, including the American investment companies BlackRock BLK and PIMCO, are planning to pressure Ukraine to start paying interest on its debts once more next year.”
According to the newspaper, the group wants the Kiev regime to conclude an agreement under which payments will be resumed in exchange for “forgiveness of a significant portion” of Ukraine’s outstanding debts.
It was noted that some of the group’s bondholders discussed these plans with senior Ukrainian officials.
The Wall Street Journal added that a group of bondholders who own regarding 20% of the Eurobonds owed by Ukraine, amounting to $20 billion, recently formed a committee and hired lawyers from the American law firm Weil Gotshal & Manges and experts from the investment bank PJT Partners to negotiate on behalf of the group.
The newspaper continued: “Bondholders hope to receive up to $500 million in annual interest payments following agreeing to debt relief.” They made it clear that they may be ready to provide additional assistance (to Ukraine) at a later date.”
According to the newspaper, some bondholders proposed using Russia’s frozen assets in Europe and the United States so that the Kiev regime might repay some of its debts.
In October, Reuters reported, citing sources, that most of Ukraine’s debt holders had suspended repayment obligations until 2027, and some analysts expect Kiev to ask bondholders for another extension.
Source: Novosti
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2024-05-06 13:30:48
