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Concorde Capital Research: Ukraine raises UAH 6 bln from local bonds

January 22, 2020 | Cbonds

Ukraine’s Finance Ministry raised UAH 6.3 bln at its weekly bond auction on Jan. 21 after drawing UAH 6.0 bln at the auction last week. The auction receipts came from the placement of 6M, 14M and 3Y bonds.

Around two-thirds of auction receipts – UAH 4.1 bln – came from the sale of 3Y bonds to 21 out of 28 bidders with a weighted average interest rate of 10.01% (vs. 12.38% for the same bonds on Dec. 3). The sale of 14M bonds to 13 out of 29 bidders brought UAH 1.7 bln with weighted average interest of 10.04% (vs. 10.18% for the same bonds last week).

In addition, MinFin satisfied 6 out of 28 bids for the purchase of 6M bonds for UAH 512 mln with a weighted average interest rate of 10.03%.

Evgeniya Akhtyrko: The interest rates for short-term bonds declined significantly amid the growing demand. The interest rates converged at around 10%, no matter the bonds’ term of maturity. The yield curve for Ukrainian local bonds, which was clearly inverted previously, is closer to normal now.

Next week, the government will lengthen the maturity of the Ukrainian state bonds spectrum by offering 7Y bonds.

Issue: Ukraine, 201255 UAH 24may2023 Benchmark

StatusCountry of riskMaturity (option)AmountIssue ratings (M/S&P/F)
outstandingUkraine05/24/20236,470,603,000 UAH-/-/-

Company: Ukraine

Full company nameUkraine
Country of riskUkraine

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