New Ukrainian UKRAINE-2022 Eurobond spiked 30-35 bp above the Ukrainian sovereign curve - expert

Investment bank BCS, Leonid Ignatyev, Head of Fixed Income Research: Due to the lagging price performance, new Ukrainian UKRAIN 22 Eurobond spiked 30-35 bp above the Ukrainian sovereign curve, while its spread to UKRAIN 17N, which posted healthy gains last week, widened almost to 90 bp. We expect it to tighten the same 30-35 bp, at least. Therefore, we recommend buying the longest Ukrainian sovereign Eurobond until its yield is back to the curve’s level.

• Status
  early redeemed
• Country of risk
  Ukraine
• Redemption (put/call option)
  *** (***)
• Amount
  2,250,000,000 USD
• М/S&P/F
  — / — / —