Investors approved a two-year payment delay on roughly $20 billion of Ukraine’s foreign-currency debt, heeding calls from Washington and other allied governments to grant the embattled nation a financial reprieve as it burns through cash.
Ukraine asked bondholders last month to push back payments of interest and principal on a clutch of dollar- and euro-denominated government bonds, with a combined face value of nearly $20 billion, by two years. The government’s request came as little surprise to creditors, who had expected that Kyiv would need to restructure its debts as the war dragged on.