REUTERS
This is the most effective borrowing move in the modern history of Ukraine.
Ukrainian Finance Minister Oksana Markarova has said the placement of ten-year eurobonds worth EUR 1.25 billion with a yield rate of 4.375% per annum was the most effective borrowing move in the modern history of Ukraine.
"Yes, this is the most effective borrowing in the modern history of Ukraine. This is the second point in the curve and in our strategic history of returning borrowings namely to the European market. Namely in euros. Because Ukraine is Europe," she wrote on Facebook.
Markarova said this was the best indicator of confidence in Ukraine.
According to the Ministry of Finance, applications for the purchase of new-issue securities from over 350 investors from around the world totaling over EUR 7 billion were received during the placement.
Read alsoUkraine places euro-denominated bonds worth EUR 1.25 bln
Settlements for the new issue should take place on January 27, and the funds received will be used to finance the state budget.
The new issue is expected to get "B" ratings from Standard & Poor's and Fitch agencies.
The final maturity of issued eurobonds is January 27, 2030.
Lead managers of the issue were BNP Paribas, J.P. Morgan and Raiffeisen Bank International.
As UNIAN reported earlier, the eurobonds worth EUR 1 billion were issued in June 2019 with a seven-year maturity period and a yield of 6.75% per annum. The issue took place after a 15-year break.