Ukraine's creditors agree to two-year payment freeze on almost $20 billion in international bonds


Reuters | Updated: 10-08-2022 20:46 IST | Created: 10-08-2022 20:46 IST
Ukraine's creditors agree to two-year payment freeze on almost $20 billion in international bonds

Ukraine's overseas creditors have backed its request for a two-year freeze on payments on almost $20 billion in international bonds, according to a regulatory filing on Wednesday, a move that will allow the war-torn country to avoid a debt default.

With no sign of peace or a ceasefire on the horizon nearly six months after Russia's invasion began on Feb. 24, bondholders have agreed to postpone sovereign interest and capital payments for 13 Ukrainian sovereign bonds maturing between 2022 and 2033. The government in Kyiv launched a consent solicitation, which is a formal request to agree with creditors on changes to sovereign debt contracts, on July 20.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)

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