Ukraine secures U.S. guarantees on USD 1 bln in Eurobonds

Ukraine secures U.S. guarantees on USD 1 bln in Eurobonds



22 вересня 2014 года
Конкорд Капитал

Ukrainian President Petro Poroshenko reported on Sept. 19 that he secured USD 1 bln in guarantees from the U.S. government its next issue of Eurobonds. The U.S. government guaranteed the Ukrainian government’s May issue of USD 1 bln, five-year Eurobonds under a 1.844% yield.



Alexander Paraschiy: The IMF stated in its review of its stand-by arrangement that Ukraine will raise USD 2 bln more through Eurobond placements. It was quite predictable that this funding could be possible only under U.S. government guarantees. The offer is positive for Ukraine’s gross international reserves, as well as the ForEx market. In September, Ukraine will redeem its last large foreign debt for the year (USD 1.6 bln on Naftogaz Eurobonds). Afterwards, its international reserves will resume growth in light of continued support from the EU and World Bank, coupled with the next anticipated Eurobonds placement. Another review by the IMF of the stand-by arrangment in December, if successful, will lead to a USD 2.8 bln tranche and boost reserves to USD 18.5 bln, or 2.8 months of imports.

Источник: Конкорд Капитал

Аналитик: Александр Паращий
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