Fixed Income

October 28, 2019

Ukrainian sovereign Eurobonds finished on a positive note last week, rising substantially in value amid signs that the country is closing in on a new 3-year cooperation program with the IMF. Director of the IMF’s European Department Poul Thomsen said the IMF could send a mission to Ukraine in the next few weeks to work out the details. The Ukrainian side earlier mentioned USD 5bn as the desired amount for the additional aid from the Washington-based lender. Kyiv has a rather large foreign debt redemption total next year of around USD 6.4bn, and the Finance Ministry hopes to issue USD 4.0bn in new Eurobonds in 2020 to refinance part of the amount.