Comment: Ukrainian eurobond market as of 7 December
December 10, 2012
Svitlana Rusakova, International Fixed Income Sales, Dragon Capital
Ukrainian Eurobonds weakened towards the weekend amid negative news flow. Following the Moody’s downgrade, S&P cut Ukraine’s long-term rating to B, and later on Friday the NBU reported a further decline in its foreign reserves. All this pushed sovereign debt about 0.5-1.0pt lower. Recently issued UKRINF 9% 17s slipped below par on the bid side. Ukraine 20s moved down to 102.5/103.5 (7.32%/7.15%) and Ukraine 22s closed at 100.25/101.25 (7.76%/7.62%). Corporate names were more resilient, yet a few quotes were adjusted a bit lower. Metinvest 15s and 18s were quoted at 102.0/103.0 (9.31%/8.85%) and 95.75/96.75 (9.81%/9.56%). Oschadbank weakened to 94.75/95.75 (10.18%/9.80%).
Issue — Ukraine, 7.750% 23sep2020, USD
Country of riskUkraine
Redemption (put/call option)
М/S&P/F— / — / —