“Market instability” was cited by Andriy Kobolev, Naftogaz CEO, as the key reason for postponing placement this week of $500 million worth of 5-year Eurbonds. He wrote on his Facebook page on Thursday: “The high potential cost of raising funds in international markets make the issuance of five-year debt obligations impractical.” Tim Ash writes that an unfriendly international bond market now forces Ukraine to play ball with the IMF: “The market and the official financing sector are dovetailing together to continue to put pressure on policy makers to hold to an orthodox policy agenda.”
“Market instability” was cited by Andriy Kobolev, Naftogaz CEO, as the key reason for postponing placement this week of $500 million worth of 5-year Eurbonds.
