VAT bonds to be issued in several tranches

Ukrainian Finance Minister Fedor Yaroshenko said yesterday at a press conference that VAT bonds would be issued in several tranches. Yaroshenko said the first tranche could approach UAH 1.3 bln. Deputy Finance Minister Andriy Kravets said that the government will only offer companies repayment for VAT arrears via VAT bond and no other options are considered for those who do not apply for VAT bonds. As of June 18, applications for VAT bonds amounted to UAH 5 bln, according to the Finance Ministry; the deadline for applications is June 25.