Ukraine

Ukraine’s finance minister Natalie Jaresko has invited the country’s creditors to a meeting in London on Thursday to discuss her government's restructuring proposal in an attempt to agree on a solution for the country's worsening debt crisis.

Bondholders overwhelmingly approved State Savings Bank of Ukraine’s (Oschadbank) Eurobond reprofiling plans this week, which senior board members said should answer rumours of a possible default.

Ukrainian lender Privatbank is asking investors for a short maturity extension on its 2015 Eurobonds, while it talks to holders of its 2015 ans 2016 notes in an effort to agree on a plan to restructure the bonds.

Ukrainian lender Privatbank failed in its first attempt to reprofile its 2016 bonds, which surprised some analysts. But not those inured to the numerous iterations of most Ukrainian restructuring exercises.

Ukrainian food producers are ramping up their push for internationally syndicated loans. One sunflower oil producer has signed a loan, another is in the market and a third food company has set its sights on a deal.

A new narrative on Greece has emerged. Syriza, the country’s recently elected left-wing party, has for months been known across Europe and across capital markets exclusively for its anti-austerity views. Now, we are hearing something at once more surprising and more worrying: that Greece, under its new government, is beginning to side with Putin’s Russia.