.Which is an announcement by the Ukrainian Security Service on Thursday that it has opened an criminal investigation into just how Ukraine managed to sell $3bn ofsome curious bonds to Russia in the last months of Viktor Yanukovych’s government.

Ukraine — call the sovereign debt cops

Joseph Cotterill Author alerts | Sep 25 10:07 | 3 comments | Share

. . .Which is an announcement by the Ukrainian Security Service on Thursday that it has opened an criminal investigation into just how Ukraine managed to sell $3bn ofsome curious bonds to Russia in the last months of Viktor Yanukovych’s government.

The bond was the first part of a $15bn bailout which the Maidan protests quicklyinterrupted. One allegation against the previous administration is that a payment of $450k to Russia’s VTB Capital — the bond’s sole lead manager — was illegal.

You might suppose a criminal case like this (and the recent invasion of its country) would suggest Ukraine treat the Russian bond as odious debt. But, as far as we’re aware, Kiev still intends to pay it in full…

Related link:
Ukraine’s odious bonds — part one and part two – PIIE

This entry was posted by Joseph Cotterill on Thursday September 25th, 2014 10:07. Tagged with Russia, Sovereign Debt, Ukraine.

http://ftalphaville.ft.com/2014/09/25/1983342/ukraine-call-the-sovereign-debt-cops/