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Concorde Capital Research Local bond placement raises UAH 0.5 bln for Ukraine state budget

April 11, 2018 | Cbonds

Ukraine’s Finance Ministry sold 6M, 1Y, and 3Y UAH-denominated bonds for a total amount of UAH 455 mln at an auction held on April 10. The auction comes after UAH 184 mln was sold last week. The interest rate for 1Y bonds, which brought more than 90% of action receipts, slid to 16.95% from 17.00% two weeks ago.

Three bidders bought 6M bonds for UAH 4.2 mln, while the receipts from the sale of 3Y bonds amounted to UAH 27.2 mln. The interest rate for 3Y bonds – 16.15% – was the same as the government's placement on March 20, while the interest rate for 6M bonds went up to 17.10% from 17.00%

Evgeniya Akhtyrko: The demand for local bonds on the primary market remains low in April after a fruitful March when bond auction receipts brought UAH 29 bln (in equivalent) to the state budget. Even relatively high interest rates are not able to ensure a steady stream of bids to the local bond market which points to the overall weakness of the Ukrainian market. We do not expect significant moves in interest rates or in auction receipts at MinFin’s upcoming auctions.

Company: Ukraine

Full company nameUkraine
Country of riskUkraine

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