Sunday 31 May 2015

Kiev rejects debt restructuring deal - FT.com

Kiev rejects debt restructuring deal - FT.com:



"Ukraine has rejected a debt restructuring deal put forward by international creditors as the two sides struggle to break through a negotiation stalemate.



A group of investors representing just under $9bn of Ukrainian bonds, including Franklin Templeton, Ukraine’s largest creditor, this month suggested a plan to reduce the country’s debt burden by $15.8bn over the next four years — a figure that exceeds the $15.3bn targeted by the government.



An insider said the restructuring would involve bundling Ukraine’s outstanding international debt into one or two bonds and extending the repayment date by up to 10 years."



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