Page 25 - bne_newspaper_February_08_2019

Weekly Lists
February 8, 2019 www.intellinews.com I Page 25
bne:Credit Ukraine aims for $2bn
Eurobond placement in 2019
The Ukrainian authorities are going to raise up to $2bn via Eurobond placements in 2019, according to the National Bank of Ukraine’s (NBU’s) deputy governor Dmytro Sologub.
In October 2018, Ukraine placed a $750mn five-year tranche of sovereign Eurobonds, and a ten-year tranche of $1.25bn. The yield of the five-year tranche maturing in February 2024 was 9% per annum, the ten-year tranche some 9.75%. The initial reference point was about 9.25% and about 10% respectively. The volume
of the order book amounted to $4.9bn.
The move immediately followed an agreement between Kyiv and its main donor, the International Monetary Fund (IMF) over a new 14-month stand-by programme of $3.9bn. The programme will replace the arrangement under the Extended Fund Facility (EFF) agreed March 2015.
Turkey’s largely dormant sovereign wealth fund has hired Citigroup and Industrial Commercial Bank of China to act as coordinators in a €1bn syndicated loan deal, according to five people with knowl- edge of the matter quoted by Bloomberg on February 6.
The security will have a maturity of two years with an option to extend for another year so that Turkiye Varlik Fonu (Turkey Wealth Fund, or TWF), can inject cash into the companies it holds, one of the people was cited as saying. The transaction will mark the first time the fund taps international markets for debt.
Azerbaijan’s central bank on February 1 cut its refinancing rate to 9.25% from 9.75%.
The national lender also adjusted its rate corridor. It set a lower boundary of 7.25% and an upper boundary of 11.25%, compared to the 7.75% and 11.75% boundaries that were previously in place, central bank governor Elman Rustamov told reporters.
At the end of October, the central bank reduced the refinancing rate from 10% to 9.75%, while noting that inflation had steadily fallen since the last meeting of its management board, with nine- month average annual inflation at 2.6%, well below the central bank’s target range of 6%-8%.
Turkey’s sovereign wealth fund hires coordinators for €1bn syndicated loan deal
Azerbaijan’s central bank cuts refinancing rate to 9.25% from 9.75%