Ukraine
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The government has blocked Naftogaz from making payments, even though it wants to pay -
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
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State-owned energy firm will wait for bondholders' response to Ukraine's offer
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Proceeds from the two notes will fund long-term loans to Ukraine and Moldova
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Two state-owned issuers will offer investors similar terms to the sovereign, unlike Naftogaz
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The sovereign has so far received little push-back in its debt relief discussions with investors
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Investors are showing 'very' strong support, said a source involved in the consent solicitation
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Other state-owned Ukrainian issuers continue to pay debts, including Ukreximbank
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It makes perfect sense for Ukraine to stop paying on its bonds. Any future restructuring will require similarly sensible thinking from all creditors
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Restructuring Ukraine's nearly $23bn of Eurobonds may be easier than expected
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Private investors have little doubt the international bondholders will aid Ukraine
