The mobile network operator Vodafone Ukraine has signed a contract with Raiffeisen Bank International AG for the management of derivatives.

The mobile operator said on Monday that the international contract allows Vodafone Ukraine to hedge currency risks on the international borrowed capital market with the help of Raiffeisen Bank International AG, which is one of the main international partners of Vodafone Ukraine in the banking sector.

"The agreement has become another effective financial instrument for Vodafone. The company has been successfully operating in the international debt capital market since 2018. In February 2020, Vodafone Ukraine successfully issued loan participation notes on the external stock market – five-year $500 million LPN at 6.20%. The notes were rated 'B' by Fitch and S&P as of May 24, 2021," - the operator said.

As the operator said, this is the first derivatives management contract, which was concluded after the entry into force of the law of Ukraine on capital markets and organized commodity markets in July 2021.