LONDON (Reuters) – A new, detailed proposal put to Kiev by a committee of Ukraine’s biggest creditors and aimed at restructuring the country’s debt does not include a principal writedown, a source familiar with the talks said on Tuesday.
The source added the proposal was consistent with earlier public statements by the committee.
Around $23 billion worth of debt is earmarked for restructuring under the plan which Ukraine’s government says must include a “haircut” or writedown in the bonds’ principal and coupons. The creditors have steadfastly opposed haircuts.
The committee includes investment firm Franklin Templeton and represents investors holding bonds worth about $10 billion.
(Reporting by Karin Strohecker; editing by Sujata Rao)