Ukraine placing $2 bln of 2033 bonds at 7.25%
Ukraine is placing $2 billion of eurobonds maturing in 2033 at 7.25% per annum, a banking market source told Interfax.
Initial yield guidance as a round 7.75%, then lowered to 7.5% and finally 7.25-7.35%.
Goldman Sachs and JP Morgan are running the placement'
This is Ukraine's second attempt at placing dollar-denominated Eurobonds in a month. The country's previous Eurobond offering took place on July1; investors were offered a 12-year issue. The final placement volume was supposed to come to $1.75 billion, and the final yield rate was set at 7.3%.
But the deal was called off at the last minute due to the National Bank governor's resignation.
Ukraine has succeeded in borrowing more at a lower rate at the second attempt.
Ukraine is also buying back up to $750 million of eurobonds maturing in 2021 and 2022. These can be exchanged for new bonds.
Demand for the new bonds, not including those tendered for repurchase, is just over $6.3 billion, compared with $7.5 billion at the beginning of July.