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Concorde Capital Research: Ukraine raises UAH 1 bln from selling six-month bonds

August 01, 2018 | Cbonds

Ukraine’s Finance Ministry raised UAH 1.0 bln at its weekly local bond auction held on July 31 after UAH 5.0 bln were raised last week. At the auction, where 6M, 1Y and 3Y bonds were offered, the lion's share came from the sale of 6M bonds, while the sale of 3Y bonds brought only UAH 12.7 mln.

The six-month bonds were sold to three bidders at an interest rate of 18.00% – the same as for three-month bonds sold last week. The government satisfied two out of three bids for 3Y bonds at a weighted average interest rate of 16.82% (vs. 16.70% two weeks ago).

Evgeniya Akhtyrko: The demand for UAH-denominated local bonds is typically weak during the slow summer season. High interest rates for local bonds increase the risks both for holders and the issuer, so budget financing needs are being covered mostly by 3M and 6M bonds, which offer the shortest terms. We are not likely to see any significant moves on the primary local bond market through the end of the summer.

Company: Ukraine

Full company nameUkraine
Country of riskUkraine

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