Ukraine prices 10-year Eurobond at 4.375%, raises EUR 1.25 bln

23 January 2020

Ukraine’s Finance Ministry announced on Jan. 22 the pricing of its new Eurobond denominated in euros. The ten-year bond with an expected B credit rating (by Fitch and S&P) was priced at a 4.375% rate. Total bids for the bond exceeded EUR 7 bln, and the resulting amount of the issue will be EUR 1.25 bln. Settlements will be made on Jan. 27.

 

Alexander Paraschiy: The timing of this bond's issue was well-selected considering its interest rate was the lowest in Ukraine’s history. Indeed, it fell in line with our estimate yesterday (4.2%-4.7%). Ukraine’s 2020 state budget foresees about USD 5 bln in external borrowing, so it’s likely the government will tap the market for new Eurobond issues later this year.

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