Holders of approximately 93% of the notional value of Ukrainian GDP warrants in circulation approved Ukraine's proposal to defer payments and revise their conditions. Such a proposal was supported by about 91% of such owners who voted "

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According to the published information, these results are preliminary, and Ukraine will announce the final results after the meeting on August 10, 2022, which will also consider a proposal to defer payments on Eurobonds of the country and state-owned companies under state guarantees.

The deadline for voting on them expires at 5:00 pm New York time on Tuesday, August 9. Need to support more than 2/3 of Eurobond holders of all issues and more than 50% of each issue.

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As reported, on July 20, Ukraine offered Eurobond holders to defer all payments on them and maturities for two years from August 1, while maintaining the current rate of return.. After this period, interest can be paid immediately or capitalized.

With regard to GDP warrants, it was proposed to voluntarily defer for 14 months their payments due in 2023, limit the possible amount of payments in 2025 to 0.5% of GDP for 2023 and extend the maturity of these instruments for a year and at the same time grant the right to Ukraine in full or. Taking into account the extension of the term of circulation of GDP warrants per year, the last reporting year will be 2039, and the end date will be the payment date falling on 2041.

The proposal was also supported by a group of Ukraine's creditors consisting of Canada, France, Germany, Japan, Great Britain and the United States, noting that they strongly recommend that holders of Ukraine's Eurobonds accept the offer to defer payments. and revision of conditions on GDP warrants.

According to the initial conditions of GDP warrants, Ukraine in 2023 must pay 0.06% of GDP, or about $120 million, and taking into account the repurchase by the Ministry of Finance of GDP warrants on the market for a conditional amount of $604.262 million, about $97.6 million.