Page 50 - UKRRptMar21

8.5.1​ Fixed income - bond news
Metinvest​, Ukraine’s largest steel and iron ore producer, is considering issuing a new bond​, according to a March 3 report by Interfax-Ukraine, which cited information from Debtwire reported by Renaissance Capital.​ ​Metinvest had USD 0.8 bln of cash at the end of 2020, and stated that it might spend money on M&A (the Pokrovske coal business), early repayments of bank loans and possible partial prepayment of USD 0.3 bln of METINV’23 bond outstanding, according to Renaissance Capital as cited by Interfax-Ukraine.
A quick solution to the issue of debt to producers of "green" electricity (RES) could be the issue of "green" bonds in the amount of up to UAH24bn​, but at the same time solutions are being sought to avoid the accumulation of such debt in the future, acting Minister of Energy of Ukraine Yuriy Vitrenko has said. "We are working on a quick option - issuing green bonds up to UAH24bn," he said at a meeting with the European Business Association (EBA). Vitrenko also said that at least half of the loan from state banks to Ukrenergo in the amount of UAH10.25bn, directed to state enterprise Guaranteed Buyer, will also be used to pay off the debt, which partially solves the problem. According to him, among the long-term solution to the problem, payments from the budget through a tax on carbon emissions or advance payments for the supply and transportation of "green" hydrogen are considered.
Fitch Ratings has affirmed Ukraine-based DTEK Energy B.V.'s (DTEK) Long-Term Foreign-Currency Issuer Default Rating (IDR) at 'RD'
50​ UKRAINE Country Report​ March 2021 ​ ​www.intellinews.com