Agreement between Ukraine, creditors could be reached this week - media

15:09, 25.08.2015 1 min read

The ad hoc creditors' committee and the Ukrainian authorities could agree on restructuring the country's eurobonds this week, the Financial Times has reported, referring to own sources.

"The deal is not yet issued," FT said, adding that the conclusion of the agreement could take place this week.

As reported, Ukraine and its creditors are considering a 20% cut to the face value of the debt as part of a restructuring deal with bondholders. The talks are underway.

Ukraine has been holding talks on restructuring its eurobonds worth some $20 billion with its creditors.

Kyiv threatened to impose a moratorium on debt service payments if the holders of around $20 billion of its bonds did not agree to begin negotiations soon, during which the Ministry of Finance offered to write off 40% of the debt principal, permit execution by installments, and reduce interest payments.

Ukrainian authorities and creditors previously signed a confidentiality agreement and are obliged to not disclose the details of the talks.