Naftogaz’ failed Eurobond placement last week is clouding bond selling prospects of two other ‘quasi sovereigns’ – Ukrzaliznytsa and Ukreximbank –
Tuesday, November 20, 2018
Naftogaz’ failed Eurobond placement last week is clouding bond selling prospects of two other ‘quasi sovereigns’ – Ukrzaliznytsa and Ukreximbank – Bloomberg writes in a report headlined: “Ukraine’s Bond Market Setbacks Put Foreign Financing at Risk.” From Hamburg, Lutz Roehmeyer, chief investment officer at Capitulum Asset Management, says: “Now that the sovereign could issue, but the first quasi-sovereign could not, this is really bad news for any other company out of this country as funding sources are scarce.” From Kyiv, Yuriy Butsa, Ukraine’s state debt chief, says the first question he gets from investors is: “Where are you with the IMF?”