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Ukraine has secured relief on more than $20bn of debt from private international bondholders, boosting Kyiv’s race to finance an intensifying war effort against Russia.
Almost all of Ukraine’s bondholders voted for a deal that will write down the face value of their debt by more than a third and free up $11bn for the country’s finances over the next three years through reduced interest payments, Ukraine’s finance ministry said on Wednesday.
President Volodymyr Zelenskyy’s government has negotiated one of the fastest and biggest sovereign debt workouts in modern history over the past four months, even as Kyiv pulled…
