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Concorde Capital Research: MinFin of Ukraine raises UAH 2.7 bln from local bonds

August 07, 2019 | Cbonds

Ukraine’s Finance Ministry raised UAH 2.7 bln at its weekly bond auction on Aug. 6 after raising a record high of UAH 17.2 bln at the auction last week. MinFin offered 3M, 1Y and 3Y bonds.

Weekly changes in interest rates were not consistent this time. In particular, the weighted interest rate for 3M bonds amounted to 16.49% vs. 16.23% for the same bond a week ago. Meanwhile, the interest rate for 1Y bonds declined to 16.22% vs. 16.51% last week. The interest rate for 3Y bonds dropped to 16.06% from 16.44% two weeks ago.

Around three-quarters of auction receipts – UAH 2.0 bln – came from the sale of 3Y bonds to 31 out of 49 bidders. The sale of 1Y bonds to 25 out of 34 bidders brought UAH 497 mln. Finally, nine out of 12 bidders were successful in buying 3M bonds for UAH 171 mln.

Evgeniya Akhtyrko: It looks like the lower volume of placed debt is acceptable for MinFin as it continued with lowering interest rates for bonds with longer maturity. Next week, MinFin is to offer 6M, 1Y and 2Y UAH-denominated bonds. A further decline in interest rates is possible.

Issue: Ukraine, 204572 UAH 03aug2022

StatusCountry of riskMaturity (option)AmountIssue ratings (M/S&P/F)
outstandingUkraine08/03/20222,486,678,000 UAH-/-/-

Company: Ukraine

Full company nameUkraine
Country of riskUkraine

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