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Concorde Capital Research: MinFin of Ukraine raises UAH 1 bln from local bonds

August 21, 2019 | Cbonds

Ukraine’s Finance Ministry raised UAH 1.1 bln at its weekly bond auction on Aug. 20 after raising UAH 2.0 bln at the auction last week. MinFin offered 3M, 1Y and 3Y bonds.

The highest auction receipts – UAH 501 mln – came from the sale of 1Y bonds to nine out of 11 bidders with a weighted average interest rate of 16.04% (vs. 16.16% for the same bond last week). In addition, MiFin satisfied all ten bids for 3Y bonds for UAH 489 mln at 16.12% (vs. 16.06% two weeks ago). The rest of auction receipts equal to UAH 82 mln came from the sale of 3M bonds to all 11 bidders at 16.49% (the same rate for 3M bonds as two weeks ago).

Evgeniya Akhtyrko: Ukraine’s local bond market is struck in an August lull. The changes in interest rates have not been consistent. MinFin managed to lower the interest rate for the most asked 1Y bonds but agreed to sell 3Y bonds at a somewhat higher rate than two weeks ago.

Next week, the government is to offer 6M, 1Y, 2Y and 5Y bonds. We expect the lull to continue, with auction receipts staying at UAH 1-2 bln and no significant changes in interest rates.

Issue: Ukraine, 204572 UAH 03aug2022

StatusCountry of riskMaturity (option)AmountIssue ratings (M/S&P/F)
outstandingUkraine08/03/20223,695,968,000 UAH-/-/-

Company: Ukraine

Full company nameUkraine
Country of riskUkraine

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