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LONDON - Ukraine has been sounding out major investors over plans to restructure the country's $20 billion in international debt and the possibility of raising fresh financing, three people with knowledge of the discussions told Reuters.
Talks with bondholders were due to start early next year. But concerns that international backing for Ukraine may be waning and few indications that the conflict is close to abating have brought fresh momentum into debt talks, the sources said. The U.S. in late September passed a stop-gap funding bill to avoid a government shutdown that did not include aid for Kyiv.
Butsa had many direct meetings with creditors, one source familiar with the discussion said on condition of anonymity. Ukraine's ambition is to tap markets early, the source added, to help shore up access to financing while its International Monetary Fund programme runs to 2027, the person said.Ukraine's finance ministry and debt management office said they would provide comment later.
FROM DEBT REWORK TO FRESH FUNDS As part of a debt restructuring, Ukraine would issue new bonds to existing holders once losses on existing debt had been agreed upon. But given the risk inherent in lending to a nation at war, investors said they would favour some form of guarantee or backstop by Ukraine's partners to agree to the deal.
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