Ukraine welcomes the Ad Hoc Committee support for the warrants exchange offer and consent solicitation, publishes updated launch announcement

Today, Ukraine has published an updated launch announcement relating to the exchange offer and consent solicitation (the “Invitation”) for its outstanding GDP-linked Securities (“Warrants”), which was originally launched on 1 December 2025. This follows extensive further consultations with investors and discussions with the Ad Hoc Committee, and reflects feedback from the broader market regarding legal and technical elements relating to the transaction.

Ukraine welcomes the statement by the Ad Hoc Committee of Warrant holders supporting the Invitation, and encourages all holders of Warrants to do the same.

The Ministry of Finance is confident that the Invitation represents the best possible solution to comply with Ukraine’s long-standing commitment to restructure the Warrants  to help restore Ukraine’s debt sustainability. The proposal has been reviewed by the IMF and the GCU.

Subject to satisfaction of the conditions to the Invitation, the transaction will be completed in 2025 to meet Ukraine’s budgetary constraints.

The early-bird voting window has been extended until 15 December, the exchange period remains open until 17 December, with settlement expected on 29 December.

Backgroud:

Ukraine Announces Exchange Offer and Consent Solicitation for Existing GDP-Linked Securities