Finance Ministry issues fourth VAT bond tranche of UAH 6 bln

Ukraine’s Finance Ministry issued its fourth tranche of VAT bonds yesterday, which totaled UAH 6.04 bln (USD 0.76 bln). Together with the previous three tranches, the total current outstanding amount (par value) of VAT bonds equals UAH 16.44 bln (USD 2.1 bln). Mykyta Mykhaylychenko: It looks like the government already issued the largest part of the VAT bonds and the next tranches, if any, should not exceed UAH 1-1.5 bln in par value. It will now take a few weeks for the bonds to reach the secondary market. For now, we see the yields at around 15%+.