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Ukraine’s largest creditor, Franklin Templeton, has set up a creditor group and hired Blackstone to advise the bloc during upcoming debt restructuring negotiations with Kyiv, a source familiar with the situation told Reuters on Sunday.

The person was confirming an earlier report by the Financial Times, which quoted sources as saying Franklin Templeton was leading a group of creditors holding 50 percent of outstanding Ukrainian international bonds. Blackstone represented Greece’s creditors in 2012.

Franklin Templeton did not immediately respond to an email seeking comment.

The Financial Times quoted another person close to the talks as saying the creditor group was unwilling to accept a haircut, or writedown, on the bonds’ principal, and viewed the debt relief targeted by Ukraine as too high.

Ukraine wants the restructuring to involve principal writedowns as well as maturity extensions and coupon reductions, Finance Minister Natalia Yaresko told investors on Friday.

Kyiv is aiming for the restructuring to save over $15 billion in order to plug a financing gap left after the International Monetary Fund approved a bailout package.

Aside from a $17.5 billion loan from the IMF, the bailout envisages $15.3 billion to be raised by restructuring debt.

Franklin Templeton holds around $6.5 billion of Ukraine’s bonds or over a third of Ukraine’s Eurobonds, while PIMCO, Blackrock, Fidelity and Stone Harbor are also among the bondholders. Russia holds another $3 billion worth of Ukrainian bonds and has already said it will not restructure.

Ukraine, like Greece a few years ago, is being represented at its debt talks by Lazard, and has also hired White Case to act for it. Yaresko is due to travel to Europe and the United States in coming weeks to hold talks with bondholders.