Exclusive-Ukraine bondholders poised to form creditor group for $20 billion debt talks, sources say


© Reuters.

By Jorgelina do Rosario and Karin Strohecker

LONDON (Reuters) – Ukraine’s overseas bondholders are in talks to form a creditor committee ahead of debt rework talks with the country, according to four people with direct knowledge of the discussions.

Time is of the essence for Ukraine to secure a restructuring before a two-year payment freeze agreed by holders of its $20 billion of outstanding international bonds ends in August.

A formal group could kick off talks ahead of the International Monetary Fund’s spring meetings, two sources said, which are scheduled to start on April 17 in Washington.

Russia’s full-scale invasion in February 2022 has shattered Ukraine’s economy and finances, forcing it into a sovereign default. This would be the first effort to formalize debt talks between private bondholders and the country.

A formal group would be able to engage with the government to hold detailed discussions and exchange concrete proposal, involving privileged information.

Ukraine’s debt management office did not immediately comment.

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