12:46 29.10.2018

Finance ministry publishes results of placing $2 bln eurobonds

2 min read
Finance ministry publishes results of placing $2 bln eurobonds

Ukraine's Finance Ministry has placed two new issues of eurobonds for $750 million due on February 1, 2024 and for $1.25 billion due on November 1, 2028.

According to a posting on the website of the ministry, the 2024 Notes will bear interest at the rate of 8.994% per annum and the 2028 Notes will bear interest at the rate of 9.750% per annum.

The ministry said that the new issues are expected to be rated B- by Standard & Poor’s and B- by Fitch.

The total indications of interest for the new issues amounted to $4.9 billion across circa 390 investors.

Settlement of the new issues is expected to take place on November 1, 2018.

The proceeds of the new issues will be used for general budgetary purposes, as well as to redeem Ukraine's $725 million zero coupon debt securities issued on August 28, 2018.

"We are grateful to our international partners, who today again supported our country. In spite of the complicated situation on the international markets for emerging credits, they showed their faith in Ukraine and recognized the reforms made by the Government, the President and the Parliament by participating in our significant bond issuance. We are confident that after adoption of the balanced budget for the year 2019 and the start of the new IMF stand-by program, Ukraine will be in a strong position to fulfill all obligations to our investors and lenders," Ukrainian Finance Minister Oksana Markarova said.

BNP Paribas, Citi, Goldman Sachs International and J.P. Morgan Securities plc acted as Joint Lead Managers on the transaction.

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