Ukraine has reopened negotiations with holders of its GDP-linked warrants as the government seeks to revise $3.2bn of growth-linked debt, according to a report by Bloomberg citing people familiar with the matter.
A group of investors led by hedge funds has signed NDAs to enter restricted talks this week, the people said. Earlier discussions in November failed to produce an agreement on revised terms for the securities. Restricted status allows the sharing of non-public information and typically limits trading activity while market-sensitive issues are under review.
Holders of the warrants include hedge funds Aurelius Capital Management and VR Capital Group, being advised by Cleary Gottlieb Steen & Hamilton and PJT Partners.
