Ukraine debt holders go public after stall in talks

 
Caitlin Morrison
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UKRAINIAN sovereign debt holders have given up their anonymity in what appears to be a response to accusations that they lacked transparency in restructuring talks over the country’s debt.

The bondholder committee, led by Franklin Templeton, which had already disclosed its membership, includes funds managed or advised by BTG Pactual Europe, Franklin Advisers, TCW Investment Management Company and T. Rowe Price.

The committee holds approximately $8.9bn (£5.7bn) of Ukrainian debt.

Kiev’s accusations of a lack of transparency were also bolstered by former US treasury secretary Lawrence Summers, who accused the bondholders of being “selfish” in not providing the names of creditors.

Negotiations over the restructuring of Ukraine’s $23bn debt have stalled in the past week, as creditors have opposed a reduction of the value of the bonds.

However, the creditor committee yesterday repeated its objections to a so-called haircut on the bonds.

Representatives for the Ukrainian finance ministry declined to comment on yesterday’s developments.

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