30 August 2010
Ukraine’s Finance Ministry announced Friday that it issued its second tranche of UAH 2.05 bln (USD 260 mln) in special UAH sovereign bonds to cover VAT arrears to corporate exporters. According to the statement, 217 companies/VAT payers received bonds in the second tranche. Together with the first tranche, the total current outstanding amount (par value) of VAT bonds equals UAH 2.1 bln. Overall, the Finance Ministry plans to issue VAT Bonds for some UAH 17 bln; we expect the next tranches to hit the market in the nearest weeks.