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Ukraine Unleashes Pricing of 10-year EUR-denominated Eurobonds

Jordan Major

Many governments and corporations would not succeed as they do today without one form of borrowing or the other. A standard method of borrowing that they use is usually the bonds. For instance, all the tiers of governments at any given time have projects to complete. All of these projects need funds and bonds come in as an excellent strategy of raising money.

In that context, Ukraine announced the pricing of its new 10-year benchmark Eurobond denominated in EUR. The bond comes in principle amount of €1,250,000,000 and has a final maturity of January 27, 2030. These new notes will attract an annual interest rate of 4.375%.

Reports reveal that the new issue will have a B-rating by Fitch and B by Standard & Poor. Additionally, the settlement of this new issue will take place on January 27, 2020. Interestingly, its cumulative indications of interest reached over EUR 7 billion from at least 350 investors from around the world.


The money obtained from the new offering will go into servicing the general budgetary needs. Oksana Markarova, the Minister of Finance of Ukraine, said that the EU-Ukraine Association agreement enhanced the country’s integration with the European Union. Currently, the EU has become Ukraine’s biggest trading partner, and the bond’s EUR issuance will increase EUR inflows in the country. He added:

“As promised in June last year, our presence on the EUR market is strategic. Today we are happy to announce the pricing of a benchmark ten-year EUR-denominated bond at a record low coupon of 4.375%, attracting demand from over 350 investors worldwide and putting a second dot on our euro curve.”

J.P. Morgan, BNP Paribas, and Raiffeisen Bank International were the Joint Bookrunners, and Joint Lead Manages on this transaction. Official reports suggest that the announcement of this bond will not be sent or distributed in Australia, the United States, Japan, or Canada.

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