Ukraine sells USD 2.0 bln Eurobond at 9.25%

Ukraine sells USD 2.0 bln Eurobond at 9.25%



18 липня 2012 года
Конкорд Капитал

Ukraine sold a USD 2.0 five-year Eurobond at 9.25%, according to Kommersant. This was the first sovereign Eurobond placement since February 2012.

Vitaliy Vavryshchuk: The note’s yield is comparable to those on the secondary market and we think the sale of the Eurobond is boon for the government. While the 2012 government borrowing plan foresees raising USD 4.7 bln externally (with nothing raised before this), we think even USD 2.0 bln in proceeds from the Eurobond should make the government comfortable until yearend. The gap is likely to be filled with domestic borrowings – the government raised 67% of its full-year plan for local placements in 1H12. Notably, the Eurobond placement should ease pressure in the local FX market and adds confidence that the government and NBU will manage to keep the hryvnya relatively stable through end-2012.

Источник: Конкорд Капитал

Аналитик: Виталий Ваврищук
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