Finance
Ukraine's GDP warrants leap on restructuring proposal
Published by Global Banking and Finance Review
Posted on December 2, 2025
2 min readLast updated: January 20, 2026
Global Banking and Finance Review
Company
Published by Global Banking and Finance Review
Posted on December 2, 2025
2 min readLast updated: January 20, 2026
Ukraine's GDP warrants rose to a 4-year high after a restructuring proposal. The plan includes replacing $3.2 billion in warrants with a new bond and offering $180 million in cash.
LONDON, Dec 2 (Reuters) - Ukraine's GDP warrants leapt to their highest level in over four years on Tuesday after the government launched a formal plan to restructure the fixed income instruments that would potentially pay out billions of dollars in coming years.
Ukraine wants to retire the $3.2 billion of warrants and replace them with one new bond with rising interest rates. It is also offering investors up to $180 million in cash to back the deal.
Tuesday's reaction was a more than 4 cent jump in the price of warrants. It lifted them to 97.4 cents on the dollar, Tradeweb data showed, their highest level since late 2021 when worries of a Russian invasion were starting to mount.
Kyiv has been in on-off discussions to replace the warrants for much of the year after their complex terms saw them excluded from a broader $20 billion sovereign bond restructuring struck last year.
Advisers for the core group of warrantholders in discussions with Kyiv are due to hold a webinar for investors to ask questions about the plan later on Tuesday.
The Ad Hoc Group, as it is known, has signalled it could back Kyiv's proposal but has recommended warrantholders refrain from voting on the offer until an announcement it has said it will make no later than 1200 GMT on Thursday.
(Reporting by Marc Jones, editing by Karin Strohecker)
Fixed income instruments are types of investment securities that provide returns in the form of regular, or fixed, interest payments and the eventual return of principal at maturity.
Debt instruments are financial assets that represent a loan made by an investor to a borrower, typically including bonds, notes, and debentures, which require repayment with interest.
A financial community refers to a network of individuals and organizations involved in the finance sector, including banks, investors, regulators, and financial service providers.
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