Ukraine says it reached quorum for GDP warrants vote on Wednesday

BY Reuters | ECONOMIC | 08/09/22 07:24 AM EDT

LONDON, Aug 9 (Reuters) - Ukraine says it has reached the required quorum for holders of the country's GDP warrants to vote on Wednesday over a consent solicitation that proposes changes to the securities, according to a regulatory filling on Tuesday.

"Approximately 93% of Holders of the Notional Amount of Securities outstanding were represented for quorum purposes and approximately 91% of such Holders had voted in favour of the Extraordinary Resolution," the statement added.

The country said that final results will be announced after the meeting on Wednesday.

In July the Ukrainian government launched a proposal to change conditions on its $2.6 billion of outstanding GDP warrants, a derivative security that triggers payments linked to its economic growth.

Ukraine is also asking creditors to defer payments on the war-torn country's international bonds for 24 months as Kyiv hopes to swerve a messy $20 billion default. (Reporting by Jorgelina do Rosario; Editing by Jon Boyle)

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