Ukraine, creditors re-launch formal restructuring talks on GDP warrants

BY Reuters | ECONOMIC | 11/26/25 12:14 PM EST

LONDON, Nov 26 (Reuters) - Ukraine's government and a group of investors holding its GDP warrants have entered a third round of formal restructuring talks, a source familiar with the situation said. The talks are the second formal attempt in less than four weeks to clinch a deal to restructure the $3.2 billion of the fixed income instruments that are linked to economic growth.

The discussions started on Tuesday, the source added.

Ukraine's finance ministry declined to comment, as did lawyers representing the group of warrant holders. (Reporting by Karin Strohecker, Libby George, additional reporting by Marc Jones, editing by Rodrigo Campos)

In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

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