Fitch Ratings has affirmed Ukraine-based DTEK Energy B.V.’s (DTEK) Long-Term Foreign-Currency Issuer Default Ratings (IDR) at ‘RD’ (Restricted Default). The agency has also affirmed DTEK’s U.S. dollar Eurobond senior unsecured rating at ‘C’ with a Recovery Rating of ‘RR4’ and an expected recovery of 50%. According to the document, the affirmation reflects continued negotiation on … Read more
Ukraine’s Finance Ministry has paid $444 million for the sixth coupon on government external loan bonds (eurobonds), the press service of the ministry has told Interfax-Ukraine. The ministry recalled that the first Monday of September is a day off in the United States, the coupon was paid on September 4. As reported, these eurobonds were … Read more
The Metinvest mining and metal group after making an offer to buy back 2021 eurobonds has received applications for $1.07 billion, the group reported on the Euronext Dublin last week. The group earlier said that on March 19, when the offer was made, 2021 eurobonds worth $1.187 billion were outstanding. Thus, after the buyback it … Read more
Metinvest mining and metal group has placed eurobonds under the 2012 eurobond refinancing program and pre-export financing facility ((PXF-financing): $825 million bonds due on April 23, 2023 and $525 million bonds due on April 23, 2026. According to information in the Bloomberg system, five-year bonds were placed at 98.986% of their face value. Taking into … Read more
Metinvest Mining and Metallurgical Group after obtaining consent from the holders of 96.8% of eurobonds with circulation until 2021 to change the terms of circulation of the securities will reduce the coupon rate to 7.5% per annum, the group said on the website of the Euronext Dublin stock exchange. According to the offer, the yield … Read more
Ukraine’s Ministry of Finance paid the fifth coupon on eurobonds on March 1, the press service of the ministry has told Interfax-Ukraine. According to the Ministry of Finance, the total payment amounted to $444.4 million. As reported, these eurobonds were issued within the framework of a debt operation carried out by Ukraine in 2015 with … Read more
Fitch Ratings has assigned Biz Finance Plc upcoming hryvnia-denominated eurobond issue an expected Long-Term rating of ‘B-(emr)(EXP)’ and recovery rating of ‘RR4’, reads a report on the rating agency’s website. “Senior unsecured loan participation notes will be issued by Biz Finance Plc, a UK-based special-purpose vehicle. Proceeds from the issuance will be lent by Biz … Read more
The nominal gross domestic product (GDP) of Ukraine, denominated in U.S. dollars, will increase to $122 billion in 2018 from $110 billion in 2017, the chief economist of Dragon Capital investment company, Olena Belan, predicts. According to her, in 2019 Ukraine’s dollar GDP could reach $130 billion, exceeding $125 billion – a threshold level, exceeding … Read more
The depository of the National Bank of Ukraine from April 2, 2018 launches the model for outstanding government foreign loan bonds (eurobonds) in own depositary system. “The relaxation of licensing of these transactions for Ukrainian residents would occur within and in terms of the global currency liberalization project,” the NBU said in a presentation posted … Read more
Avangard agricultural holding, as part of ongoing discussions with the various groups of creditors, has began work with a special committee of bondholders and its adviser on the proposal to restructure its eurobonds for $200 million with a 10% interest rate maturing in 2018. “The company expects that any restructuring of its debt, including eurobonds, … Read more