Ukraine
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Deal is intended to raise C$500m from retail investors in Canada -
The CDS auction for Russia will be held on September 12
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GC Asia View
News that toxic assets will be tradeable for a time and replacement corporate bonds are on the way could dent attempts to weaken the country’s financial system
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Meanwhile, auction for Russia CDS date narrowed
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Borrower may not care whether its offer is successful, said one analyst
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Process for Ukraine expected to be far easier than for Russia
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It is not possible to know what Ukraine will be able to offer, but it will not be much
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Ukraine sovereign comes through consent solicitation as investors also grant two state-owned issuers two years' relief from Eurobond payments
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Ukraine will find itself in 'awkward' position when negotiating with creditors
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The government has blocked Naftogaz from making payments, even though it wants to pay
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The new offer looks 'exactly like' the Ukraine's and its other state-owned issuers' consent solicitations
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A public spat between Ukraine and Naftogaz risks diminishing investor goodwill
