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Ukraine places € 1 billion eurobonds at 6.75% per annum

Source : 112 Ukraine

Interest on new Eurobonds will be calculated at this rate, the Ministry of Finance said
19:52, 15 June 2019

Open source

Ukraine has announced the pricing of new Eurobonds issued in Euros. Their amount is 1 billion Euros with a deadline of June 20, 2026. The demand was 6 billion Euros, the
Ministry of Finance reports.

"Interest on new Eurobonds willl be calculated at a rate of 6.75% per annum," the Ministry of Finance said in a statement.

It is noted that the new issue received a rating of "B-" from Standard & Poor's and Fitch.

The funds raised will be used to finance the budget deficit, the Finance Ministry said.

Related: Ukraine pays off Eurobonds under U.S. guarantees for $1 billion


“We are proud to announce Ukraine’s return to the issue of Eurobonds denominated in Euros after a 15-year hiatus,” comments the Finance Minister Oksana Markarova in a message.

She noted that due to EU integration, an in-depth and comprehensive free trade area provided for by the Association Agreement, as well as the development of Ukrainian business, the EU has become Ukraine’s largest trading partner with 40% of the total.

"The placement of seven-year bonds is the first event in the future long history of financial integration in the EU," Markarova said.

According to economist Viktor Skarshevsky, Ukraine today placed seven-year eurobonds at € 1 billion at 6.75% per annum.

Related: Ukraine loses hundreds of millions of dollars in fraud with government bonds

Related: How Ukraine's corrupt officials launder their earnings through government bonds

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