Restructuring of $3 billion of Ukraine's eurobonds held by Russia falls under the mechanisms of the London Club, according to Ukrainian Finance Minister Natalie Jaresko.
“At this point we see the Russian issued, Russian purchased bonds should be treated on equal basis (with Ukraine’s other eurobonds). We have no reason to believe at this point that they are anything other than a London type of credit. They have not register with the Paris Club and at this point we have notified ultimate bondholders through the custodian system through the clearing system, just like we have notified all of eurobond holders,” she said on the air of CNBC Channel.
When asked to specify the ultimate beneficiaries of the $3 billion worth of eurobonds which were bought by Russia, Jaresko said that they are unknown yet.
“Actually I don’t know that, I don’t know who is the ultimate beneficiaries of the debt are. They have not yet come forward. All we know that there are three custodians and as I said we have notified them through the clearing system,” she said.
