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Concorde Capital Research: MinFin of Ukraine raises UAH 1.2 bln from local bond sale

November 07, 2018 | Cbonds

Ukraine’s Finance Ministry raised UAH 609 mln and USD 21.5 mln (a total of UAH 1.2 bln in the equivalent) at its weekly auction on Nov. 6 after raising the same amount in the equivalent at an auction last week.

The highest auction receipts – USD 21.5 mln – came from the sale of 15M local Eurobonds, which were sold to 19 bidders at a weighted average interest rate of 7.5%. The government left unsatisfied one bid at 7.75%.

The government sold 3M UAH-denominated bonds to 15 out of 17 bidders for UAH 470.7 mln at 19.00%. The rest of UAH receipts came from the sale of 6M, 9M and 12M bonds, which were all placed at an interest rate of 18.5%.

The government sold 6M bonds to three out of seven bidders for UAH 7.0 mln, 9M bonds to all five bidders for UAH 52.1 mln and 12M bonds to five out of six bidders for UAH 78.9 mln.

Evgeniya Akhtyrko: We are not likely to see any significant moves this month from MinFin neither in interest rates nor in the amount of government receipts on the local debt market. Two more placements (on Nov. 13 and Nov. 20) of local Eurobonds are scheduled for this month. Receipts from the placements of these Eurobonds are likely to compensate the outlays related to the redemption of local Eurobonds for USD 132.8 mln in November.

Company: Ukraine

Full company nameUkraine
Country of riskUkraine

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