Fixed Income
April 07, 2014
Ukraine’s sovereign Eurobonds finished only slightly higher last week, as news of an apparent price increase for Russian imported natural gas to USD 485 per 1,000 cubic meters offset positive expectations about the possibility of an influx of IMF and other Western financing to the new Kyiv government. The country’s longest-maturity bond, Ukraine-2023s inched up by 0.3% to 92.8/97.5 (8.7%/7.9%). Meanwhile, quotes for the medium-term Ukraine-2017 benchmark issue rose by 1.9% to 93.5/94.5 (8.9%/8.6%), with the initial IMF tranche of USD 3.0bn likely to reach the Finance Ministry’s coffers by the end of this month.
