(Bloomberg) -- The world’s largest private investors and key members of the Paris Club are among creditors supporting Ukraine’s plan to delay debt payments in the wake of Russia’s invasion.

The Finance Ministry “received explicit indications of support” for the plan from a select group of its biggest debt holders, including BlackRock Inc., Fidelity International, Amia Capital and Gemsstock Ltd, it said in a statement.

Ukraine launched a consent solicitation on Wednesday to amend the terms of $19.6 billion in eurobonds and $3.2 billion of GDP-linked warrants. That could help the war-torn country save about $6 billion over the next two years, according to a person familiar with the matter who asked not to be identified as they weren’t authorized to speak about it. 

Eurobond and warrants holders have until Aug. 9 to vote on a series of amendments to delay debt payments until August 2024. Rothschild & Co. and White & Case are advising the government, while JPMorgan Chase & Co. is running the consent solicitation offer. The nation is holding a call with investors at 4:30 p.m. in London to discuss the offer and the challenges it’s currently facing.

Separately, members of the Paris Club including the US, the UK, Germany and France said in a statement on Wednesday that they would let Ukraine suspend debt servicing until the end of 2023. They also urged Ukraine’s other creditors to back the halt in debt servicing. 

 

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