Fixed Income

January 25, 2021

In corporate Eurobonds, Kernel-27s climbed 0.3% to 106.5 (5.6% YtM) after the company reported an impressive increase of 23% YoY in edible oil sales in the Oct-Dec quarter. Kernel also had growth in its other key business segments, including a 6% YoY rise in grain exports in the period. On the downside, MHP-29s declined by 0.4% to 102.3 (6.0% YtM) and NaftoGaz-24s edged lower by 0.6% to 102.5 (6.3% YtM). Quasi-sovereign OschadBank-23s added 0.4% to 104.9 (4.8% YtM), while UkrEximBank-25s advanced by a more notable 3.4% to 108.2 (5.8% YtM).