Holders of Ukraine’s GDP warrants approve the restructuring proposal.
Wednesday, August 10, 2022

Holders of Ukraine’s GDP warrants approve the restructuring proposal.

Holders of 91% of the notional value of GDP warrants in circulation have approved Ukraine’s proposal to postpone payments and revise their terms. It is noted that holders of approximately 93% of the notional value of GDP warrants were represented at the meeting regarding the issue’s approval. The necessary quorum was reached, and Ukraine received the required consent for the extraordinary decision, the stock exchange reported. These results are preliminary, and the final decision will be announced after an August 10 meeting. The proposal to postpone Eurobond payments of the country and state-owned companies under state guarantees will also be considered at the next meeting. The restructuring of these payments requires the support of more than 2/3 of the Eurobond holders of all issues and more than 50% of each issue.

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