Financial sector news

The Ukrainian government and holders of GDP warrants, whose payments are tied to economic growth rates, have resumed negotiations on the terms of restructuring these securities.

A group of investors in these securities, led by hedge funds, signed non-disclosure agreements last week to enter into so-called “restricted” negotiations, Bloomberg reports, citing its own sources.
The term “restricted” itself means that the negotiations involve the exchange of non-public information. This usually also involves temporary restrictions on the sale of securities, as the topics discussed may be sensitive for the market.

The warrant holders include hedge funds Aurelius Capital Management LP and VR Capital Group. They are advised by Cleary Gottlieb Steen & Hamilton LLP and PJT Partners Inc.