This site uses cookies to provide you with a great user experience. By using BondbloX, you accept our use of cookies.
Bond Market News
Ukraine Reaches Agreement for Swapping GDP Warrants
December 10, 2025
Ukraine has reached an agreement with the adhoc group of warrant holders to exchange up to $3.2bn of its GDP-linked warrants into new C-class bonds maturing in 2030, 2031, and 2032. The deal, supported by key holders including Aurelius Capital and VR Capital, comes after months of negotiations. These complex instruments were excluded from Ukraine’s $20bn restructuring last year due to their potentially large post-war payout. The final agreement does not change the commercial terms from the proposal released on December 1, but clarifies legal protections and drafting language. The government stated that the core economic and structural terms remain unchanged, clearing the path to finalize the swap. Key sticking points involved loss reinstatement protections and voting rights. Some analysts noted that both factors could place the holders of Ukraine’s outstanding bonds at a disadvantage, with their loss reinstatement clause set to expire in January 2026.
As per Bloomberg, Ukraine’s 2041 GDP warrants rose to about 101 cents. However its 4.5% 2036s dollar bonds dropped marginally to 53.8 cents on the dollar.
For more details, click here
Go back to Latest bond Market News
Related Posts:
Credit rating boost for Ireland & Portugal: EU inches towards recovery
September 20, 2017
China Refutes S&P Downgrade Action
September 26, 2017
Mongolia’s Credit Ratings Upgraded to B3 by Moody’s
January 19, 2018
BondbloX Pte. Ltd. is regulated by the Monetary Authority of Singapore as a Recognised Market Operator ("RMO") and exempted from Section 49(1) of the Securities and Futures Act (Cap. 289) ("SFA") under Section 49(7) of the SFA.