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ESCP Ukraine Fixed Income Weekly March 7, 2016

Eurobonds overview

The prices of Ukraine’s Eurobonds gained 6.1 cents on average last week. Ukraine-19 and Ukraine-20 traded at 91.7 cents on average; Ukraine-21 and Ukraine-22 were at 90.0 cents on average; Ukraine-23 and Ukraine-25 traded at 87.7 cents on average; Ukraine-24, Ukraine-26, and Ukraine-27 traded at 86.1 cents on average. The market rally came on backdrop of the rumors about the consent of the current Prime-Minister to step down in favor of the current Finance Minister Natalia Jaresko, who is highly estimated among the business and investment community for her successes in reforming the financial policy of the country, and handling the negotiations on the restructuring of the country’s debt to private investors. Natalia Jaresko is also seen as an essential link between the country, foreign creditors and investors overall.

Read more: ESCP Ukraine Fixed Income Weekly March 7, 2016

Ukraine Fixed Income Weekly (March 21, 2016)

Eurobonds overview

Most Ukraine’s Eurobonds’ prices gained last week, save the longest Ukraine-26 and Ukraine-27, which lost 0.1 cent to be traded at 87.7 cents on average. The shortest Ukraine-19 and Ukraine-20, together with the longer Ukraine-24 and Ukraine-25 gained 0.5 cents. Ukraine-19 and Ukraine-20 were traded at an average 93.6 cents, whereas Ukraine-24 and Ukraine-25 were traded at 88.7 cents and 89.6 cents respectively. The medium-term Ukraine-21, Ukraine-22, and Ukraine-23 gained 0.9 cents on average to be traded at 92.2 cents, 91.0 cents, and 90.4 cents respectively. The sovereign Eurobond prices might have been driven by the rumors about the start of the negotiations to appoint the current Finance Minister Natalie Jaresko as Prime-Minister, on  background of supportive statements by the highest level officials of the IMF, EU, and the US.

Read more: Ukraine Fixed Income Weekly (March 21, 2016)

Ukraine Fixed Income Weekly (February 29, 2016)

Eurobonds overview

The prices of Ukraine’s shorter-term Eurobonds lost 2.8 cents on average last week. Ukraine-19 traded at a weekly average of 90.6 cents, Ukraine-20 at 89.4 cents, and Ukraine-21 traded at 88.4 cents. The longer-term sovereign Eurobonds gained 3.5 cents on average. Ukraine-22 traded at a weekly average of 87.4 cents, Ukraine-23 at 86.3 cents, Ukraine-24 at 84.6 cents, Ukraine-25 at 85.5 cents, Ukraine-26 at 83.7 cents, and Ukraine-27 at 83.2 cents. Sovereign Eurobonds’ prices were dragged down by persisting tension on the currency market, increasing instability with the Government and the ruling coalition, as well as unsupportive news about the postponing of the EU decision on the visa-free agreement with Ukraine.

Read more: Ukraine Fixed Income Weekly (February 29, 2016)

Ukraine Fixed Income Weekly (February 22, 2016)

Eurobonds overview

Most Ukraine’s Eurobonds’ prices remained unchanged last week, save the Ukraine-24, Ukraine-25, and Ukraine-27, which lost 0.2 cents on average to be traded at 86.7 cents, 87.3 cents, and 85.3 cents respectively. Ukraine-19 traded at 91.8 cents, Ukraine-20 at 90.8 cents, Ukraine-21 at 89.8 cents, Ukraine-22 at 89.0 cents, Ukraine-23 at 88.0 cents, and Ukraine-26 at 85.8 cents. The failure of the no-confidence vote to the Government, the adoption of several laws that brings the country in line with the commitments under the EU integration and visa-free agreement, the adoption of some laws in the framework of the cooperation with the IMF, on background of further turbulences on the local currency market, and a manifested interest of the G-7 countries in maintaining stability and continuity in the country generated an environment with multiple ramifications, restraining the Eurobond market price movements.

Read more: Ukraine Fixed Income Weekly (February 22, 2016)

Ukraine Fixed Income Weekly (February 15, 2016)

Eurobonds overview

All Ukraine’s Eurobonds’ prices continued losing in prices last week with the deepest price downswing coming to the longer term notes. Ukraine-19 and Ukraine-20 lost 0.9 cents on average, and were traded at 91.8 cents and 90.8 cents respectively. Ukraine-21 and Ukraine-22 lost 0.4 cents on average and were traded at 89.8 cents and 89.0 cents correspondingly. Ukraine-23, Ukraine-24, Ukrained-25, and Ukraine-26  lost 1.2 cents on average to be traded at 88.0 cents, 86.8 cents, 87.6 cents, and 85.8 cents correspondingly. And Ukraine-27 lost 1.6 cents to be traded at 85.5 cents. The market continued negatively reacting to the ongoing political crisis in the country, and the stiff reaction of the IMF and the G-7 countries to the development.

Read more: Ukraine Fixed Income Weekly (February 15, 2016)