#Ukraine — call the sovereign debt cops | FT Alphaville

Ukraine — call the sovereign debt cops | FT Alphaville: "

. . .Which is an announcement by the Ukrainian Security Service on Thursday that it has opened an criminal investigation into just how Ukraine managed to sell $3bn of some curious bonds to Russia in the last months of Viktor Yanukovych’s government.



The bond was the first part of a $15bn bailout which the Maidan protests quickly interrupted. One allegation against the previous administration is that a payment of $450k to Russia’s VTB Capital — the bond’s sole lead manager — was illegal. 




You might suppose a criminal case like this (and the recent invasion of its country) would suggest Ukraine treat the Russian bond as odious debt. But, as far as we’re aware, Kiev still intends to pay it in full…"



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