Ukrainian GDP-linked warrants have surged to their highest level since February amid renewed speculation that Kyiv may resume talks with creditors on restructuring, according to investment firm ICU, reported Ukraine Business News.
Last week, the price of the warrants exceeded 84.5 cents per dollar of notional value, marking the strongest performance since February 2025, when optimism about a potential peace deal brokered by former US President Donald Trump briefly buoyed Ukrainian assets.
The rise comes amid rumours that the Ministry of Finance and the creditors’ committee have restarted restructuring negotiations after a six-month pause. The two sides failed to reach an agreement in April after the ministry refused to include any cash payments in its proposal.
Ukraine aims to complete the restructuring by year-end, ahead of launching a new programme with the International Monetary Fund.
ICU analysts said creditors are now hoping that Kyiv’s latest offer will feature new Eurobonds in exchange for warrants, potentially alongside limited cash payments. With time running short, the firm noted, Ukraine may be more inclined to compromise compared with its previous stance, though any cash component is likely to remain modest.
Related Articles
Piraeus Bank joins Ukraine’s state-guaranteed loan programme for entrepreneurs
Piraeus Bank has joined a government-backed initiative to support Ukrainian entrepreneurs through state portfolio guarantees, reported Ukraine Business News. The Cabinet of ... more
Belgium threatens to block Ukraine reparations loan unless EU shares risks
Belgium has warned it will block a proposed reparations loan to Ukraine backed by frozen Russian assets unless other EU countries agree to share legal and financial risks, Belgian Prime Minister Bart ... more
NBU keeps rate unchanged, trims GDP outlook amid war risks
The National Bank of Ukraine (NBU) left its key policy rate unchanged at 15.5% for the fifth consecutive meeting and downgraded its economic growth outlook, citing persistent inflation expectations ... more