Fixed Income
August 09, 2021
The Ukraine-32s issue, which is the proxy for the 10-year benchmark bond, was flat at 104.4 (6.9% YtM), and the short-term Ukraine-22s edged down by 0.3% to 104.3 (3.5% YtM). The VRI derivatives (linked to Ukraine’s future GDP growth with expiration in 2040) edged up 0.3% to 116.5 cents on the dollar. The EUR-denominated Eurobonds of NaftoGaz with maturity in 2024 inched down by 0.2% to 103.7 (5.7% YtM) as ballooning natural gas prices could hardly cover the potential loss of income from the gas transit segment after Russia launches its Nord Stream-2 pipeline.
