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Concorde Capital Research: Local bond placement raises UAH 1.6 bln for Ukraine state budget

January 18, 2018 | Cbonds

Uraine’s Finance Ministry raised UAH 1.6 bln from the sale of local bonds at a local auction held on Jan. 16, the ministry reported. The government offered bonds maturing in three, six, nine and 36 months, with 45% of auction receipts coming from the sale of three-month bonds.

Evgeniya Akhtyrko: No one was interested in the three- and six-month bonds at interest rates lower than 16.0%. The six-month bonds were sold at 16.0%, compared to 15.75% at the previous auction on Jan. 10, indicating that market participants are taking advantage of the government's willingness to pay higher rates in order to cover budget gaps.

Meanwhile, the government took three bids for nine-month bonds at 15.75%, while it rejected four bids ranging between 15.70-16.00% for the three-year bond as too high. So far this year, the government raised UAH 2.6 bln from the placement of local bonds, showing much higher results from last year when January receipts were UAH 1.0 bln.

Company: Ukraine

Full company nameUkraine
Country of riskUkraine


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