eurobonds

Friday, August 30

Over 97% of Eurobond holders support Ukraine’s restructuring planthat will save the country $11.4B. The Ministry of Finance of Ukraine said that 97.38% of holders of $20.47B ($24.3B including interest) in Eurobonds support the restructuring agreement, exceeding the required two-thirds threshold. &#...

Monday, August 26

Ukraine has extended the early consent period deadline for the exchange of Eurobonds. Ukraine announced a four-day extension – until the evening of August 27 – of the deadline for early consent to the exchange of Eurobonds within the framework of their restructuring, which provides the...

Thursday, August 15

Fitch Ratings lowers Ukraine’s credit rating to limited default. In particular, the issuer’s long-term foreign currency default rating was downgraded from C to RD (restricted default), Fitch Ratings said in a statement. This rating level means that the issuer...

Thursday, March 14

Estonia proposes a plan to find €120B to help Ukraine. The allocation of €120B a year for Ukraine’s military aid is an approximate figure of what should be enough for Ukraine to win the war, said a representative of the Ministry of Defense of Estonia, Kus...

Thursday, September 14

The EU has raised money for Ukraine through the issuance of bonds. The European Commission placed bonds on behalf of the EU in the amount of €5B. Part of the funds raised under the Macro-Financial Assistance Plus program will be directed to Ukraine’s financial ...

Tuesday, May 30

During the war, Ukrainians began to look towards instruments including shares in foreign companies, agricultural land, and real estate. According to minfin, the number of people willing to experiment with Eurobonds is due to high profitability in euros. A little more than 20% of the respondents’ potential future investment portf...

Monday, July 25

Kondor Finance refuses to change the terms of Naftogaz Eurobonds. Naftogaz of Ukraine was not able to agree to change the credit terms with the issuer of its Eurobonds, Kondor Finance plc according to a document from the Cabinet of Ministers of Ukraine. The document...

Friday, July 22

Postponing payments on Eurobonds will save Ukraine $5B. By deferring debt service payments on Eurobonds and warrants over the next two years, Ukraine will save $5B. This money will be directed to urgent needs: social protection and financial support for mi...

Ukrenergo and Ukravtodor will also ask creditors to postpone payments on Eurobonds. Ukraine expects a similar proposal from the state-owned electricity transmission system operator Ukrenergo and the State Highway Agency of Ukraine regarding their Eurobonds, issued under state guarant...

Monday, July 4

Ukrainian Eurobonds have continued to fall in price for the last six weeks. Last Friday, Ukrainian Eurobonds rose by an average of 1.7%, but overall, they lost 8.1% in value for the week. According to Bloomberg, among the dollar-denominated Eurobonds, the shortest papers mat...

Wednesday, June 22

Ukraine has raised UAH 7.8B from the sale of military bonds. At an auction on June 21, the Ministry of Finance raised almost UAH 7.8B from the sale of military bonds, and the rates remain unchanged. In total, investors were offered five issues of military bond...

Tuesday, June 21

Ukraine’s Eurobonds continue losing their value. Ukrainian Eurobonds have been falling in price for almost a month, losing an average of another 7.7% last week. The shortest-maturing securities decreased the least in September this year – by ...

Friday, May 20

Ukraine’s Eurobonds rose by 10% in two days. Ukrainian Eurobond prices rose by an average of 7.5% on May 18, when new EU macro-financial assistance to Ukraine was announced, reported Interfax-Ukraine. Given the proximity of the payment deadline,...

Thursday, March 31

Ukraine’s Eurobonds rose by 14.5% after the Istanbul talks. Ukraine’s Eurobonds rose by an average of 14.4% on Tuesday following the news of the negotiations between Kyiv and Moscow in Istanbul. Securities maturing in 2022-2024 rose in price by 10.6-12....

Tuesday, February 22

Ukraine’s dollar-denominated Eurobond prices fell again amid the military escalation in the Donbas. Military escalation and prospects for Russia’s independence recognition within the Luhansk and Donetsk regions drove bond prices lower. According to Bloomb...

Wednesday, February 9

The Ministry of Finance placed bonds for UAH 2.1B. At an auction on February 8, 2022, the Ministry of Finance offered investors securities denominated in hryvnia with a maturity of 3 months, 1 year, 1.5 years, 2 years, 3 years, and 5 years and in for...

Monday, February 7

Ukraine bought back 10% of 2022 Eurobonds and brought the redemption of GDP warrants to 20% Ukraine’s Finance Ministry recently conducted a buyback of about 10% of Eurobonds maturing in September 2022, bringing their outstanding volume down to $912M, the ministry said in a statement Fr...

Thursday, January 20

Ukrainian Eurobonds are recovering from a sharp fall. On Wednesday, January 19, quotations of Ukrainian foreign government bonds resumed growth after several days of significant decline, reported epravda. Thus, quotes for all issues of Ukrainian Eurobond...

Thursday, November 4

EBRD to invest $75 million in a sustainability-linked Eurobond issued by Ukrenergo. In a bid to resolve the payments crisis gripping the country’s renewable energy sector, the proceeds will cover all payment arrears owed to renewable energy producers. The investment will help to rest...

Tuesday, September 21

Ukraine plans to issue Eurobonds valued at $1.5 bln. The government borrowing plan for 2022, submitted by the government to the Verkhovna Rada along with the draft state budget. It involves the issue of Eurobonds with a maturity of 5-15 years for the eq...

Friday, June 18

Ukravtodor, in its debut placement on the Eurobond market, placed $700 million of 7-year bonds at 6.25%, well below the initial return target of 6.625% , Interfax-Ukraine reported yesterday. Earlier this year, the Cabinet of Ministers approved sovereign bond guarantees up to $740 million for the state highway agency. The organizers of the issue ̵...

Wednesday, May 12

With modest borrowing needs for the week, the Finance Ministry auctioned only $51.6 million in hryvnia bonds yesterday , the Ministry reported on its Facebook page. Coming after last week’s settlement of the government’s $1.25 billion Eurobond issue at a historically low interest rate of 6.876%, yields were virtually ...

Tuesday, May 4

The National Bank has simplified regulations for Ukrainian companies seeking to issue debt securities on the international market, the NBU said. The following amendments were introduced: “transactions to distribute income on and redeem Eurobonds as well as other issuer transactions for the purpose of placing such securities were ...

Monday, May 3

Ukraine has successfully completed a $1.25 billion Eurobond placement at 6.875% maturing in 2029 , the Ministry of Finance announced on Friday. Joint Book runners included BNP Paribas, Deutsche Bank, Goldman Sachs International and JP Morgan. “The funds were transferred to the account of the Stat...

Tuesday, April 27

Enjoying a peace window, on Monday Ukraine placed 8-year Eurobonds worth $1.25 billion at 6.875% per annum – the lowest yield of the government’s 11 outstanding Eurobonds, reported Bloomberg. The benchmark was 7-7.25%, but demand was almost three times supply, pushing down the final interest rate, reports Interfax.ru.

Friday, April 23

Ukraine’s GDP warrants and Eurobonds reacted positively to news yesterday that Russia will start to withdraw its troops from Ukraine’s borders . Warrants jumped from 102.5% to 104.4%, and Eurobonds rose by 0.8-2.3 percentage points, depending on maturity dates.

Wednesday, March 31

For hryvnia bonds, the Ministry pushed down yields on 3-months bonds by 35 basis points, to 7.98%, and on 1-year bonds by one basis point, to 10.74%. To sell $34.6 million worth of 2-year bonds, the Ministry raised the yield by 10 basis points, to 11.8%, according to the Ministry’s websit...

Monday, February 15

Tim Ash writes from London Tim Ash writes from London: “It’s always a frustration in Ukraine that in times of flush global market liquidity reform momentum stalls…Markets can of course turn… Ukrainian policy makers would ...

In response, President Zelenskiy promised to submit to the Rada this week needed In response, President Zelenskiy promised to submit to the Rada this week needed draft bills to improve the judicial system and “insist” lawmakers debate them “quickly.” Finance Minister Serhiy Marche...

Russian sanctioned eight more Ukrainian companies Friday, raising the total to 84. Russian sanctioned eight more Ukrainian companies Friday, raising the total to 84. The new decrees includes: vessel maker Craneship, towage firm Donmar, cargo operator Transship and metal producer Max...

Yuriy Gusev, Ukroboronprom’s director general, yesterday signed $1 billion worth of agreements and contracts in the United Arab Emirates Yuriy Gusev, Ukroboronprom’s director general, yesterday signed $1 billion worth of agreements and contracts in the United Arab Emirates with the country’s two leading military equipment manufacturers...

Nicknamed “Little Sparta” Nicknamed “Little Sparta” by former US Defense Secretary James Mattis, Sunni-dominated UAE is a close ally of Saudi Arabia and faces Shia Muslim Iran across the Strait of Hormuz. Government-owned EDGE...

With the UAE’s Hope probe now in Mars orbit, Ukrainian space and high tech companies could contribute to boosting bilateral trade With the UAE’s Hope probe now in Mars orbit, Ukrainian space and high tech companies could contribute to boosting bilateral trade, Zelenskiy said yesterday in a meeting with Sheikh Muhammad bin Zayed ...

“Ukraine can and will become a guarantor of food security in the Emirates,” Zelenskiy told WAM, the Emirates News Agency “Ukraine can and will become a guarantor of food security in the Emirates,” Zelenskiy told WAM, the Emirates News Agency, shortly after arrival on Saturday. “We are among the world leaders in the expo...

The six-month Expo ideally will promote Emirates investment and tourism in Ukraine The six-month Expo ideally will promote Emirates investment and tourism in Ukraine, Zelenskiy said. In 2019, 250,000 Ukrainians flew to Dubai, the Emirates’ largest city, using four airlines – flyduba...

The European Investment Bank will lend €270 million to rebuild Boryspil airport’s 50-year-old western runway The European Investment Bank will lend €270 million to rebuild Boryspil airport’s 50-year-old western runway, the EU bank announced Friday at its Luxembourg headquarters. In addition to replacing the ...

The EIB also is loaning Ukraine €50 million to buy Covid-19 vaccines and modern refrigeration equipment to store them The EIB also is loaning Ukraine €50 million to buy Covid-19 vaccines and modern refrigeration equipment to store them, the bank reported Friday. Earlier, the World Bank announced it would loanvUkraine...

Vaccinations are to start in Ukraine this week Vaccinations are to start in Ukraine this week, Viktor Lyashko, chief sanitary doctor and deputy health minister, said Saturday. Over the next 10 weeks, 367,000 people are to be vaccinated – largely s...

After six weeks of remote talks, an IMF team in Washington suspended its work Friday with Ukraine After six weeks of remote talks, an IMF team in Washington suspended its work Friday with Ukraine, awaiting “more progress.” Needed steps include adopting legislation to restore anti-corruption bodies...

At stake are soft loans of At stake are soft loans of: $2.9 billion from the IMF, $750 million from the World Bank and €600 million from the EU. With $29 billion in foreign currency reserves and manageable debt repayments throu...

Hours before talks were suspended, Dragon Capital wrote Hours before talks were suspended, Dragon Capital wrote: “Moderate fiscal funding needs in the coming months suggest no urgency about IMF financing…We expect a $0.7bn second tranche in July-Augu...

With Eurobond rates low, Ukraine may not feel urgency With Eurobond rates low, Ukraine may not feel urgency, analysts say. With the Biden Administration forming its policy and team for Ukraine, the IMF may be waiting to get clear signals from the US, its...

Thursday, December 3

Corporate raiding — stealing companies through forgeries or force — is up slightly this year compared to last year Corporate raiding — stealing companies through forgeries or force — is up slightly this year compared to last year, reports Ukrinform, citing data from Opendatabot, an online registry. Through October...

Ukrzaliznytsia plans to spend almost $1 billion next year on repairing locomotives, cars, and track — almost three times the money spent this year. Ukrzaliznytsia plans to spend almost $1 billion next year on repairing locomotives, cars, and track — almost three times the money spent this year. As posted on the state railroad’s site, financing wo...

Despite the corona recession, cargo handled by Ukraine’s seaports is up by 1% yoy. Despite the corona recession, cargo handled by Ukraine’s seaports is up by 1% yoy. Through November, the ports handled 146 million tons. Confirming Ukraine’s reliance on exports of raw materials, grai...

Kyiv’s autumn (September-November) was the warmest since local record keeping started in 1881 Kyiv’s autumn (September-November) was the warmest since local record keeping started in 1881, reports Ukrinform. “The calendar autumn is over but the meteorological winter has not come yet,” reports ...

Ukrainians can look forward to a normal shopping this weekend and, probably through Friday December 25, Catholic Christmas. Ukrainians can look forward to a normal shopping this weekend and, probably through Friday December 25, Catholic Christmas. Prime Minister Shmygal said November’s weekend shopping bans had cut the spr...

Yesterday morning, 13,141 new cases were announced, down from a daily average of 16,500 late last week. Yesterday morning, 13,141 new cases were announced, down from a daily average of 16,500 late last week. However, in Kyiv Mayor Klitschko said yesterday that a record 1,735 new coronavirus cases had be...

With a big budget funding gap looming, Ukraine may tap the international Eurobond market for up $1 billion in short term financing With a big budget funding gap looming, Ukraine may tap the international Eurobond market for up $1 billion in short term financing, Prime Minister Shmygal told the Korrespondent news site. He asserts ...

Timothy Ash writes from London Timothy Ash writes from London: “Surprised it took them so long given the strength of global beta which has seen Ukraine’s borrowing costs in the Eurobond market crash 200bps lower over the past month...