State-owned Ukreximbank (Kyiv) is considering a scenario to repurchase its eurobonds from the market with their replacement with cheaper and longer-term resources, chairman of the financial institution Yevhen Metsger has said. “As one of the working scenarios, the repurchase of our eurobonds from the market is considered, the rate at which is about 10% in … Read more
Ukraine’s eurobonds and Value Recovery Instruments (VRI) rose sharply on Tuesday, March 31, after the Verkhovna Rada adopted the land market law, passed at first reading the so-called “anti-Kolomoisky” law and appointed Serhiy Marchenko Finance Minister, which sharply increases the chances of Ukraine getting IMF financing and other IFIs. As market participants told Interfax-Ukraine, on … Read more
The High Court of Justice handed down a public judgment in respect of and pursuant to the Partial Final Awards (the Awards) issued by the Tribunal on June 13, 2019 in the ongoing LCIA arbitration proceedings concerning the PrivatBank eurobonds issued in 2010 and 2013. This decision, which effectively upholds the Awards and the Tribunal’s … Read more
On January 27, Ukraine completed the settlement of its new EUR 1.25 million 4.375% eurobond due 2030, the Finance Ministry of Ukraine said on its website. The investor base of the new issuance was dominated by asset managers, which accounted for 85% of the notes issued and followed by hedge funds (7%), insurance and pension … Read more
Ukraine has announced the issue of new 10 year eurobonds pegged to euros, the Finance Ministry has reported on its website. “The new EUR-denominated Reg S/144A senior unsecured notes are offered with a bullet maturity of 10 years,” the ministry said on Wednesday. FCA/ICMA stabilization applies, the ministry added. In the middle of June 2019, Ukraine placed … Read more
The National Bank of Ukraine (NBU) has canceled a monthly limit of EUR5 million for repatriation of funds from the sale of securities, corporate rights, as well as funds received as a result of a decrease in the charter capital of legal entities and the withdrawal of foreign investors from business entities, the NBU said … Read more
The European Bank for Reconstruction and Development (EBRD) has acquired one-fifth (for EUR 120 million) of five-year eurobonds issued by Naftogaz in the amount of EUR 600 million, the bank has said. “The eurobond proceeds are issued for general corporate purposes including the financing of gas purchases. The bank’s financing will be used exclusively for … Read more
JP Morgan has downgraded eurobonds of state-owned Oschadbank (due in 2023 and 2025) and Ukreximbank (due in 2022 and 2025) from Neutral (N) to Underweight (UW) due to sovereign risks, according to a review about the Ukrainian banks issued on April 30. According to the document, the decision is linked with uncertainty about the government’s … Read more
The first reaction of the international loan market to the outcome of the first round of the presidential election is positive: rates on sovereigns fell from a fall by 0.26 percentage point (p.p.) in a day as of 10:30 am for 2020 eurobonds (0.46 p.p. in a week) to a decline by 0.07 p.p. for … Read more
National joint-stock company Naftogaz Ukrainy has announced an auction to procure audit service as part of preparations for the issue of loan participation notes (eurobonds), the company reported on Friday. “The main tasks… is the preparation and issuance of letters of assurances for the purpose of issuing eurobonds, as well as the revision and preparation … Read more