Ukraine's consultations with Eurobond holders on restructuring will soon take place outside the Steering Committee of the Ad Hoc Bondholder Committee, representing around 20% of the outstanding amount of Ukraine's eurobonds, the Ministry of Finance reported on Monday.

"During the upcoming weeks the Government of Ukraine will hold consultations with bondholders outside of the Steering Committee and gather feedback from the wider investor community around the structures and instruments that work best for investors. The agreement with investors on the conditions of the restructuring is expected to be reached by the 1st of August," it says.

As reported, Ukraine and the Ad Hoc Bondholder Committee held negotiations from June 3 to June 14 and exchanged proposals for restructuring, but were unable to reach an agreement, including due to the unacceptability of the terms proposed by creditors for the IMF and the Group of Creditors of Ukraine (GCU).