Contact us (+ 7 (921) 446-25-10)
Texting is available for authorized users.
Please register or log in at the website.
Your request for online training has been sent. Cbonds managers will be in touch with you shortly. Thank you!

Eavex Capital Research: Ukrainian Eurobonds weekly comment

June 04, 2018 | Cbonds

The market value of Ukrainian sovereign Eurobonds fell notably last week after government officials admitted that the Finance Ministry might try to enter foreign capital markets with a new bond issue that would represent a more expensive borrowing than previous ones. In another internal development that was not encouraging, Prime Minister Volodymir Groysman took away control over the State Fiscal Service from the Finance Ministry; this was a setback for the Ministry’s head Oleksander Danyliuk, who is well-respected by the IMF and foreign investors. Danyliuk said the move would be an impediment for reforming the State Fiscal Service.

The longest outstanding Ukrainian Eurobonds, Ukraine-32s, lost 2.8% to close at 91.4/92.4 (8.4%/8.3%), and medium-term Ukraine-23s were down by 1.6% to 100.3/101.0 (7.7%/7.5%). The VRI derivatives (linked to Ukraine’s future GDP growth with expiration in 2040) declined by 1.7% to close at 69.4/70.4 cents on the dollar.

In corporate debt papers, DTEK-24s were unchanged at 105.7/106.7 (9.6%/9.4%) despite positive news that the company turned profitable in 1Q18, earning USD 165mn in net profit in the period. Kernel-22s edged down by 0.3% to 103.4/104.3 (7.7%/7.4%) after the company’s 1Q18 financial results fell short of market expectations.

Metinvest-23s were unchanged at 97.9/98.7 (8.3%/8.1%) and Metinvest-26s inched down by 0.2% to 97.6/98.5 (8.9%/8.8%).

The quasi-sovereign Eurobonds of UkrEximBank (25s) and OschadBank (23s), which often lag the sovereign performance by a week, were both moderately lower by less than 0.5%, ending at 103.4/104.3 (9.0%/8.9%) and 103.0/104.0 (8.6%/8.3%) respectively.

Issue: Metinvest, 8.5% 23apr2026, USD

StatusCountry of riskRedemption (offer)VolumeEmission Rating (M/S&P/F)
outstandingUkraine04/23/2026525,000,000 USDB-/-/-

Company: Metinvest

Full company nameMetinvest B.V.
Country of riskUkraine
Country of registrationNetherlands
IndustryFerrous metals


Similar news:
200 000
issues: local and international bonds
+7 812 336 97 21
200 000
issues: local and international bonds
Сbonds is a global Fixed income data platform
+7 812 336 97 21
  • Descriptive data on bonds
  • Bond Quotes from trading systems and market participants
  • Prospectuses and other issue documents
  • Credit ratings
  • Indices and indicators
  • Market news and analytical research
Analytical instruments
  • Multi-parameter bond database search
  • Bond Maps
  • Market calendar
  • Bond calculator
  • Watchlist and Portfolio management
  • Chart analysis
  • Mobile App and Excel Add-in Tool
Sign in or RegisterSubscription/Trial access
Cbonds is a global fixed income data platform