Russia not planning to participate in Ukraine debt restructuring

REUTERS

Russia will not agree to a 20% writedown to the face value of about $3 billion of "the so-called [ex-president Viktor] Yanukovych eurobonds," Siluanov announced on Thursday.

As UNIAN reported with reference to Bloomberg, Finance Minister Natalie Jaresko has reached an accord with a Franklin Templeton-led creditor committee that includes a 20% writedown to the face value of about $18 billion of eurobonds, the first of which matures in less than a month. The agreement also pushes back redemption dates by four years and sets interest at 7.75% on all maturities, according to an e-mailed statement from the Finance Ministry.

Russia is being offered the same terms as private bondholders.