Fixed Income

July 06, 2020

Following the resignation of National Bank Governor Yakiv Smoliy on Jul 1, Ukraine’s Finance Ministry was forced to cancel its previously announced Eurobond offering and sovereign buyback after investors demanded that the new circumstances be priced in. MinFin had planned a placement of a USD 1.75bn Eurobond maturing in 2032 and a switch tender offer for part of Ukraine’s existing Eurobonds due 2021 and 2022 for USD 750mn.