REUTERS
The Ministry of Finance of Ukraine said it was ready to find a solution for holders of a $3 billion bond issue, according to a posting on the ministry's website.
Only one series of eligible debt instruments did not participate in the exchange offer, the Finance Minister reported.
The terms of the new sovereign notes issued today include contractual provisions which prevent Ukraine from paying such eurobond in accordance with its terms or settling with the holders of such eurobond on terms more favourable than those received by participating bondholders in the just-completed exchange offer, according to the report.
"Ukraine regrets that that holders of such eurobond have decided not to support Ukraine’s essential debt operation, but within the contractual constraints in which it must operate the government of Ukraine remains open to finding a solution with the holders of the December 2015 eurobond," the statement reads.
Read alsoUkraine completes debt restructuring operationRussia bought $3 billion worth of eurobonds from Ukraine in December 2013, with Kyiv due to pay the debt off by December 2015. The eurobonds were placed on the Irish Stock Exchange and facilitated by VTB, Russia’s second largest bank. A total of $15 billion was promised by Russia to help buffer Ukraine’s dire economic situation on the condition a new government was formed. But Russia had not offered new funds to Ukraine after the Maidan turmoil broke out in the country.
Read alsoJaresko: Ukraine not to pay $3 bln debt to Russia as Moscow defies restructuring dealThe Ukrainian government called on Russia to participate in the restructuring deal, but the latter is said to have refused.