08 August 2024

Ukraine launches incursion into Russian border region (U.S.-based Think Tank Institute for Study of War)...NBC can't verifiy

Tomorrow, August 10, a Grace-Period emerges on one of the government's Eurobond Issues, . .and then, the lack of payment for them would mean a default

The process of restructuring Ukraine's external debt by Eurobonds has officially started. The Ministry of Finance has announced the terms of the exchange of old bonds on the paper of the new issue

Ukraine has officially started debt restructuring

.Launch of Exchange Offer and Consent Solicitation

UKRAINE, REPRESENTED BY THE MINISTER OF FINANCE OF UKRAINE

Released 13:00:10 09 August 2024

RNS Number : 9465Z

Ukraine (Ministry of Finance)

09 August 2024

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What’s behind Ukraine’s surprise incursion into Russia’s Kursk region?

Ukraine has a month to avoid default
Lending to a borrower at war entails an additional gamble:

that it will win

The Economist

Reuters

Explainer: Ukraine races against the clock to secure debt restructuring | Reuters

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Bloomberg

11 hours ago

Ukraine, Key Bondholders Reach Deal on $20 Billion Overhaul - Bloomberg

About it it is in a statement to the Ministry of Finance, recorded on the London Stock Exchange.

Holders of sovereign government bonds of Ukraine received the right to participate in the exchange in order to obtain new securities.
Ukraine invites the holders of each series of sovereign bonds and existing bonds guaranteed by the Bond Stratator to exchange their existing bonds for new securities.

It is noted that the restructuring should end by August 27.

Ukraine will pay additional funds to those creditors who agree to the conditions by August 23.

Tomorrow, August 10, a Grace period emerges on one of the government's Eurobond issues, and then, the lack of payment for them would mean a default.

The Kyiv Independent

As Russia's war rages, Ukraine struggles to renegotiate $20 billion debt deal amid looming deadline

Financial Times

Ukraine urges bondholders to accept markdown on more than $20bn of debt

Bloomberg.com

2:53

Talks to Rework Ukraine $20 Billion Debt Fail to Yield Deal

Watch

Uploaded: Jun 17, 2024

Ukraine’s first formal talks on restructuring more than $20 billion worth of international bonds ended without a deal as creditors pushed back against Kyiv’s proposal for debt relief.

Wilson Center

Will Ukraine Default on Its Debts? | Wilson Center

THE EXCHANGE OFFER DESCRIBED THEREIN IS DIRECTED, AND NEW SECURITIES DESCRIBED THEREIN WILL BE ISSUED, ONLY TO HOLDERS OF EXISTING NOTES (I) THAT ARE OUTSIDE THE UNITED STATES HOLDING EXISTING NOTES REPRESENTED BY AN UNRESTRICTED GLOBAL NOTE CLEARED IN CLEARSTREAM BANKING S.A. AND EUROCLEAR BANK SA/NV ("REGULATION S NOTES") THAT ARE NOT RETAIL INVESTORS (AS DEFINED BELOW) OR (II) THAT ARE HOLDING EXISTING NOTES REPRESENTED BY A RESTRICTED GLOBAL NOTE CLEARED IN THE DEPOSITORY TRUST COMPANY (OR, IN THE CASE OF EXISTING NOTES DENOMINATED IN EUROS, CLEARSTREAM BANKING S.A. AND EUROCLEAR BANK SA/NV) ("RULE 144A NOTES") THAT ARE (X) EITHER A "QUALIFIED INSTITUTIONAL BUYER" AS DEFINED IN RULE 144A UNDER THE U.S. SECURITIES ACT OF 1933, AS AMENDED (THE "SECURITIES ACT") OR AN "ACCREDITED INVESTOR" AS DEFINED IN RULE 501(A) OF REGULATION D UNDER THE SECURITIES ACT AND (Y) NOT RETAIL INVESTORS (EACH OF (I) AND (II) AN "ELIGIBLE HOLDER").

RNSStatement re Company Event

Launch of Exchange Offer and Consent Solicitation