June 19, 2015 / 3:05 PM / 4 years ago

Ukraine creditors group to respond to Kiev proposal "in due course"

LONDON, June 19 (Reuters) - Ukraine’s biggest group of creditors said it had received Kiev’s latest debt restructuring proposal and would respond in due course, according to a statement issued on Friday.

Finance Minister Natalia Yaresko said earlier Kiev would offer its creditors an updated debt restructuring proposal, warning Ukraine would halt debt payments if bondholders do not agree to a “last chance” offer in upcoming talks.

In an emailed statement, Kiev’s biggest group of creditors reiterated they believed their own proposal would offer “the best way forward for Ukraine”.

“We remain willing to meet and discuss the issues once we have received important outstanding information requests,” the statement continued.

Ukraine is negotiating with foreign bondholders to restructure $23 billion worth of debt as part of a four-year IMF-led $40 billion economic rescue package.

Talks have progressed slowly as both sides are at odds over deal terms with the committee rejecting Kiev’s insistence that they take a haircut - a reduction in the bonds’ face value. (Reporting by Karin Strohecker; Editing by Alexander Smith)

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