On December 1, Ukraine proposed to the holders of GDP warrants, totaling $2.59 billion, to exchange them at a ratio of 1.34 for new amortized Ukrainian Eurobonds (rfkce C) with a maturity date between 2030 and 2032. Ukraine also offered a cash reward of up to 7% for the exchange. In the following days, the special committee of the GDP warrant holders agreed to the proposal, on the condition that they would recover their losses.