Creditors agree to restructure Ukraine’s sovereign debt - Shearman & Sterling

This is said in the statement of the law firm Shearman & Sterling, Reuters reports.

"This refers to Eurobonds worth $500 million maturing on September 23 and EUR 600 million maturing on October 13, 2015," reads the statement.

It is also noted that in September the investors stated they would consider the terms of restructuring of Ukrainian sovereign bonds unfair if their securities were not repaid as soon as possible. Kyiv then offered to exchange their old securities to new short-term bonds which were planned to be issued in course of debt restructuring. The creditors will vote on these proposals on October 14.

Since March, Ukraine has been negotiated restructuring of external sovereign and quasi-sovereign debt amounting to about $23 billion.

ol