17 September 2014 Market Reviews

Bond Market Insight

Insufficient FX proceeds

After several failed auctions of similar 2-year USD-denominated bond offerings since January, US$8.0m of these bonds were sold at 8.10%, just 10bp higher than that for US$200.0m (par value) in 12-mont ...

ICUDebtInsight-20140917.pdf  (339.7kb)

16 September 2014 Market Reviews

Daily Insight

New CAD200m loan approved

The MoF will offer two 2-year bonds today, one of which will be denominated in US dollars. Two weeks ago, local currency bonds were sold at 16.50%, while USD-denominated bonds were last sold at the en ...

ICUDailyInsight-20140916.pdf  (785.9kb)

16 September 2014 Market Reviews

Bond Market Insight

Under the pressure

The last several weeks have been filled with negative anticipation of the embroiled conflict in eastern Ukraine, uncertain and postponed gas talks with Russia, and increasing uncertainty in regard to ...

ICUDebtInsight-20140916.pdf  (1.2mb)

16 September 2014 Market Reviews

Bond Market Insight

Привлечено немного валюты

Сегодня, спустя почти два месяца Минфин разместил валютные ОВГЗ, тогда как предыдущие три размещения не получали ни одной заявки на их покупку. И это было первое в этом году размещение 2-летних валютн ...

ICUDebtInsight-20140916-Rus.pdf  (427.5kb)

15 September 2014 Market Reviews

Daily Insight

DTEK 1H14 EBITDA down 6% YoY

Although DTEK reported that revenues from sales grew 20% YoY to US$4.3bn in its 1H14 financial results announcement last Thursday, EBITDA declined 4% YoY to US$829m and the company lost US$738m versus ...

ICUDailyInsight-20140915.pdf  (789.8kb)

12 September 2014 Market Reviews

Daily Insight

Sanctions push Eurobond YTMs lower

Banks’ correspondent accounts with the NBU rose UAH1.28bn to UAH31.03bn yesterday after injections from the NBU and the MoF. Total CDs outstanding slid UAH0.08bn to UAH12.70bn while total local curren ...

ICUDailyInsight-20140912.pdf  (771.5kb)

11 September 2014 Market Reviews

Daily Insight

YTMs increase; UAH stays at 13/USD

Broader banking sector liquidity slightly rose yesterday on fund reallocations. The broader indicator rose UAH0.27bn to UAH49.24bn while banks’ correspondent accounts with the NBU recovered UAH0.73bn ...

ICUDailyInsight-20140911.pdf  (784.1kb)

10 September 2014 Market Reviews

Daily Insight

Failed primary auction; UAH holds steady

Banks’ correspondent accounts with the NBU declined slightly UAH0.64bn to UAH29.02bn yesterday as the NBU absorbed some funds via CDs, increased total CDs outstanding UAH0.85bn to UAH13.23bn. At the s ...

ICUDailyInsight-20140910.pdf  (776.3kb)