Ukraine raised EUR 90 mln and USD 26 mln from local bond placement

Ukraine’s Finance Ministry placed on Dec. 5
EUR-denominated local bonds for the first time in the last three years, raising
EUR 90 mln. The 1.5-year bond was placed at the rate of 3.95%. On top of that,
MinFin raised USD 26 mln from a USD-bond placement (maturing in May 2019, with
a put option) at the rate of 3.85%. Recall, last week MinFin raised USD 575 mln from the
placement of puttable bonds at a 3.85% rate.

Ukraine’s MinFin is also planning two placements of
local bonds denominated in the foreign currency on Dec. 12 and Dec. 19.

Alexander Paraschiy: The
Ukrainian government is due to repay this month about USD 540 mln to the IMF
and the holders of local Eurobonds. With the recent and upcoming placements,
there is a good chance that MinFin will be able to raise about the same amount
so that December’s debt payments won’t have any significant effect on Ukraine’s
gross reserves.