London Stock Exchange welcomes Ukraine’s $1.25bn international sovereign bond to the Main Market

London Stock Exchange today welcomes Ukraine issuing its USD1.25bn 6.876% notes due May 2029 to London Stock Exchange’s Main Market. This is an inaugural listing of Ukraine’s sovereign Eurobonds on London Stock Exchange.
 
The new 8-year offering, which marked the first funding exercise of the Sovereign in international debt capital markets in 2021, received bids in excess of USD 3.3bn from 223 investors. The transaction was priced at a yield of 6.875% on the back of a strong momentum and investor demand gathered during an intra-day execution process.
 
The proceeds were transferred to the account of the State Treasury of Ukraine and will be used for general budgetary purposes.
 
BNP Paribas, Deutsche Bank, Goldman Sachs International and J.P. Morgan acted as Joint Bookrunners.
 
Sergii Marchenko, Minister of Finance of Ukraine commented: “We are delighted to announce Ukraine's first sovereign Eurobond listing on London Stock Exchange. This bond issuance demonstrates support for Ukraine from the global investment community in a challenging environment. We will continue contributing to Ukraine's successful integration into international financial markets.”
 
Yuriy Butsa, Government Commissioner for Public Debt Management of Ukraine said: “Despite returning to the fiscal consolidation path, Ukraine's financing needs are still high compared with the previous years. As a part of our debt management strategy, the decision was made to cover most of those needs from the local market and in national currency. Having successfully implemented this strategy in Q1, we returned to the international capital markets after their stabilization in order to cover part of our FX needs for this year. We are glad that in the less favorable market environment for the emerging economies, markets still remain accommodating for issuers with a track record of prudent fiscal and monetary policies and proactive engagement with the investor community.”

Julia Hoggett, Chief Executive Officer, London Stock Exchange Plc added: “We are delighted to welcome Ukraine to London Stock Exchange’s Main Market, with the listing of its US$1.25 billion international bond. LSEG continues to play a key role in supporting Emerging Europe to raise capital and fuel recovery. We are delighted to work with Ukraine on this important bond issue and look forward to collaborating with them again in the future.”

Alderman William Russell, The Rt Hon the Lord Mayor of the City of London stated: ‘’Congratulation to the Ukrainian government for the successful listings of the $1.25bn, 8-year sovereign bond on the main market on the London Stock Exchange.This transaction showcases Ukraine’s attractiveness to international investors. The City of London is committed to deepening economic and financial partnership between the UK and Ukraine. This is why we support the long-term collaboration between Ukraine and London Stock Exchange Group.’’

Quick facts

Track
Market: Main Market
Instrument market cap (£m)
-
Listing/Admission to trading
04 May 2021
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