Ukraine Creditors Fire Opening Salvos Before Restructuring Talks - Bloomberg Business
▻http://www.bloomberg.com/news/articles/2015-04-09/ukraine-creditors-fire-opening-salvos-before-restructuring-talks
Ukraine’s creditors are expecting a “speedy resolution” to negotiations “without any principal debt reductions,” according to a statement on Thursday. Ukraine has said it will cut the face value of bonds as well as reducing coupons and extending maturities as it seeks to meet the conditions of an International Monetary Fund bailout. A deal without writedowns is “not viable,” according to Michael Ganske from Rogge Capital Partners Plc.
“This is how restructuring negotiations always start, with unrealistic proposals,” Ganske, the head of emerging markets at Rogge in London, said by e-mail Thursday. “There will be negotiations and they will meet in between.”