Non-market bond issuance significantly changes bondholders' structure

Non-market bond issuance significantly changes bondholders' structure



10 грудня 2014 года
ICU

The MoF issued about UAH15.0bn of new government bonds last Friday, most likely in off-market share capital increases to Oschadbank and Naftogaz. As these issues were approved by the government earlier this year, the NBU monetized these bonds, purchasing UAH2.16bn last Friday and UAH3.31bn this Monday. As a result, the NBU's share declined to 67.98% while the banks' share slid to 21.27% yesterday, after having increased significantly to 21.98% on Monday.

Investment implications: As the NBU should continue to purchase recently issued bonds, its portfolio could soon rise above UAH300.0bn, increasing its share again to about 70%

Источник: ICU

Другие обзоры облигаций от ICU


Компании

все компании