Ukraine has reached an agreement in principle with the committee of owners of Eurobonds.
This follows from a statement by Prime Minister Denys Shmyhal posted on his Telegram channel, the Ukrainian News agency reports.
"Today, we reached an agreement in principle with the Committee of Eurobond Owners of Ukraine. This is an important stage in the debt restructuring process. It will allow us to save USD 11.4 billion on servicing it over the next three years and USD 22.75 billion by 2033," he wrote.
In this way, Ukraine will be able to release resources for urgent needs: defense, social protection, and reconstruction.
As the Ukrainian News agency earlier reported, on June 17, the government of Ukraine publicly announced that from June 3 to 14, Ukraine held closed meetings with representatives of the Committee of Eurobond Owners, which includes large institutional and other long-term investors who own about 20% of Ukraine's Eurobonds.
The purpose of the meetings was to discuss the terms of the restructuring of thirteen series of Eurobonds of Ukraine, which should take place by August 1, 2024, to collect feedback from the market and to agree on a structure that would be satisfactory to all parties and would allow Ukraine to achieve debt sustainability in accordance with the requirements of the International Monetary Fund program.
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