Russia not planning to participate in Ukraine debt restructuring
Russian Finance Minister Anton Siluanov says that Russia is not planning to participate in the restructuring of Ukraine's sovereign debt.
Russia will not agree to a 20% writedown to the face value of about $3 billion of "the so-called [ex-president Viktor] Yanukovych eurobonds," Siluanov announced on Thursday.
As UNIAN reported with reference to Bloomberg, Finance Minister Natalie Jaresko has reached an accord with a Franklin Templeton-led creditor committee that includes a 20% writedown to the face value of about $18 billion of eurobonds, the first of which matures in less than a month. The agreement also pushes back redemption dates by four years and sets interest at 7.75% on all maturities, according to an e-mailed statement from the Finance Ministry.
Russia is being offered the same terms as private bondholders.