10:35 23.07.2021

Ukraine places additional 2029 eurobonds for $500 mln at 6.3% - Finance Ministry

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Ukraine places additional 2029 eurobonds for $500 mln at 6.3% - Finance Ministry

Ukraine on July 22 carried out the pricing of an additional issue of eurobonds for $500 million with maturity on May 21, 2029: the additional issue was held with a yield of 6.3% and an offer price of 103.493% of par, the Finance Ministry of Ukraine has reported.

"The success of this deal on the additional placement of eurobonds, carried out within one day, testifies to the constant strong support of Ukraine from the international investment community," Finance Minister Serhiy Marchenko said.

The Ministry of Finance indicated that the final order book in the amount of $1.7 billion allowed to achieve a narrowing of yield spreads by 32.5 basis points (b.p.) compared with the initial yield guidance and by 57.5 b.p. compared to the yield (6.876%) on the initial offering of these bonds for $1.25 billion in April this year.

"We have limited the volume of the deal, as we continue to adhere to our strategy of prioritizing the attraction of concessional financing to cover most of the needs for external borrowing," Marchenko said.

He added that favorable market conditions allowed the Ministry of Finance to gradually fulfill its borrowing plan for this year before the market starts to slow down during the holiday season.

The agency clarified that BNP Paribas and Goldman Sachs International acted as joint lead managers of the transaction. Settlements for the issue are to take place on July 27, and the funds raised will be used to finance general budget allocations.

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