20 January 2015
Market Reviews
Daily Insight
Ferrexpo announces Eurobond exchange
Yesterday, Ferrexpo (FXPO LN; US$2.52; Buy; TP US$4.48) offered to exchange its existing Eurobonds on a par for par basis for new notes maturing in April 2019 that carry a 10.375% coupon with 50% amor ...
ICUDailyInsight-20150120.pdf (777.7kb)
19 January 2015
Market Reviews
Daily Insight
NBU governor's speech to parliament
On Friday, the NBU governor, in response to recent allegations of mismanagement of FX, spoke to parliament about the current situation with the hryvnia, inflation and the banking sector. While some MP ...
ICUDailyInsight-20150119.pdf (782.2kb)
17 January 2015
Market Reviews
Bond Market Insight
Short-term financing increase
The MoF held a second unscheduled auction for the week, offering the same 3-month bonds as were sold at the first unscheduled auction held on Thursday. Maturing on 1 April, 2015, the MoF sold UAH3.23b ...
ICUDebtInsight-20150117.pdf (342.6kb)
16 January 2015
Market Reviews
Daily Insight
Liquidity down significantly
Broader banking sector liquidity fell UAH3.08bn to UAH58.82bn yesterday after setting a record high on Wednesday. Banks’ correspondent accounts with the NBU fell UAH3.34bn to UAH31.10bn and total loca ...
ICUDailyInsight-20150116.pdf (772.6kb)
16 January 2015
Market Reviews
Bond Market Insight
Successful auction
Yesterday’s unscheduled primary auction not only covered Wednesday’s debt repayments but also provided additional funds. Following Tuesday’s rejected demand for 6-month bonds at rates of 19-20%, the M ...
ICUDebtInsight-20150116.pdf (346.1kb)
16 January 2015
Market Reviews
Bond Market Insight
Краткосрочное финансирование
Сегодня Минфин провёл ещё один аукцион, который не предусматривался в изначальном графике размещений ОВГЗ, и предложил рынку те же самые облигации, что были размещены вчера. Это облигации с погашением ...
ICUDebtInsight-20150116-Rus.pdf (428.5kb)
15 January 2015
Market Reviews
Daily Insight
Kremlin mulls early Eurobond repayment
Yesterday, Russian top officials considered exercising the early repayment option of the US$3bn two-year Eurobond. Although the famous bond –in that it was issued under the administration of kleptocra ...
ICUDailyInsight-20150115.pdf (740.2kb)
15 January 2015
Market Reviews
Bond Market Insight
Первое успешное размещение
Внеплановый аукцион, который Минфин провёл сегодня, принёс существенные поступления в бюджет, которые не только компенсировали бюджету расходы на вчерашние выплаты по внутреннему долгу, но и пополнили ...
ICUDebtInsight-20150115-Rus.pdf (426.8kb)