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Concorde Capital Research: Ukraine raises UAH 48 mln from local bonds placement

November 28, 2018 | Cbonds

Ukraine’s Finance Ministry raised UAH 48.1 mln from the sale of 3M and 6M local bonds at its weekly bond auction on Nov. 27. Market participants placed no bids for 1Y and 2Y bonds, which were also offered for sale.

Interest rates for bonds didn’t change from the previous auction. Four bidders bought 3M bonds for UAH 5.4 mln at 19.0% while two bidders purchased 6M bonds for UAH 42.7 mln at 18.5%.

Evgeniya Akhtyrko: It was not difficult to predict that the auction receipts would be thin. Firstly, the government didn’t offer bonds denominated in a foreign currency, which have generated most of the receipts at recent auctions. Secondly, the president’s initiative to impose martial law increased uncertainty, causing market players to refrain from investment.

MinFin plans to offer 1Y and 2Y USD-denominated bonds, as well as UAH-denominated bonds with maturity ranging from three months to three years, for sale at the weekly auction next week. Its results will serve as a solid indicator of investor attitudes to the recent dramatic developments in Ukraine’s political situation.

Company: Concorde Capital

Full company nameConcorde Capital
Country of riskUkraine
IndustryFinancial institutions


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