Bolstered by an improved bond rating and a lowered prime interest rate, the Finance Ministry pushed down yields for dollar and hryvnia bonds Tuesday. In the first auctions of dollar bonds in almost two months, the ministry pushed down yields on 23-month securities to 5.5% per annum, from 7%. The ministry sold $547 million in dollar bonds. For the hryvnia bonds, the biggest drop was for 1-year bonds, where yields fell by 43 bps, to 15.52%, from 15.95%. The Ministry sold the $113 million equivalent of hryvnia bonds, 48% more than last week. Last week, the central bank cut the prime rate to 16.5%, from 17%, and Fitch raised Ukraine’s bond rating by one notch, to B with a positive outlook.
Bolstered by an improved bond rating and a lowered prime interest rate, the Finance Ministry pushed down yields for dollar and hryvnia bonds Tuesday.
