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Concorde Capital Research: Ukraine raises UAH 10.1 bln from local bond auction

April 03, 2019 | Cbonds

Ukraine’s Finance Ministry raised UAH 6.8 bln and USD 122 mln (a total of UAH 10.1 bln in the equivalent) at its weekly bond auction on Apr. 2 after raising UAH 5.4 bln at the auction last week. The government placed four types of UAH-denominated bonds with terms of maturity ranging from four to 18 months, as well as 4M and 1Y USD-denominated bonds.

The government satisfied all bids for UAH-denominated bonds. Around half of all UAH receipts – UAH 3.2 bln – came from the sale of the 4Ì bond to 36 bidders at 19.5%. In addition, eight bidders bought 1Y bonds for UAH 2.1 bln at 18.50%, 16 bidders bought 6M bonds for UAH 1.1 bln at 19.0%, and eight bidders purchased 18M bonds for UAH 0.3 bln at 18.25%.

The lion's share of USD auction receipts – USD 121 mln – came from the sale of 3M bonds to 11 bidders at 6.50%. The rest of USD receipts of USD 1.0 mln came from the sale of 1Y bonds to ten out of 11 bidders at 7.25%.

Evgeniya Akhtyrko: The action bidders switched their interest back to bonds with a lower term of maturity. We need to see the results of a few more auctions in order to understand whether or not the bidders now prefer to abstain from accumulating too many bonds with longer maturity, which is likely to be related to increased uncertainty related to the presidential elections.

Company: Ukraine

Full company nameUkraine
Country of riskUkraine

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