KYIV, July 22 – The agreement in principle between Ukraine and the committee of holders of its bonds, totaling around $20 billion, include the replacement of 40% of their total amount and accrued interest with four issues of eurobonds (A Bonds) maturing in 2029-2036 and 23% – with four issues of contingent bonds (B Bonds) maturing in 2030-2036, part of which will be issued only upon achieving the necessary GDP level in 2028.

"Achieving agreements in principle is an important stage in the process of restructuring Ukraine's public external commercial debt. The restructuring agreement will provide that existing eurobonds will be exchanged for a package of new eurobonds with a nominal reduction in the value of the debt by 37% at the initial stage and a reduction in the net present value of the debt by about 60%," said the Ministry of Finance in a press release on its website.