Despite the prevailing optimism in world markets, which translates into a growing interest in emerging markets, in the Ukrainian segment during the week was dominated by sellers, told Interfax-Ukraine interviewed experts.
According to a senior financial analyst Astrum Investment Management Sergey Fursa, spread EMBI index, Ukraine increased by 64 points to 963 points, while the EMBI Global Index spread narrowed by 38 points to 304 points.
In addition, the expert noted that the pressure on the quotes Ukrainian eurobonds continues to the situation with Naftogaz Ukrainy.
a drop in prices last seen in the background of the decision of the Committee of ISDA recognition of default on Eurobonds, Naftogaz Ukraine . Thus, the insured event (default) arrived, and the owners of the CDS can get their money, - said the expert.
However, he noted that the statement of consent 92% of the holders of Eurobonds in the restructuring, should relieve the tension from the market. However, until the completion of the process spreads in the Ukrainian segment of the Eurobond will be unfairly extended, the expert said.
In addition, a significant event for the Ukrainian market was the new bond proposal to the bank Nadra on the restructuring.
As reported, the bank has offered to holders of debt of three options. The first provides for the payment of 20% of production at present. Second - 50% cancellation of debt and the extension of treatment for seven years, with yield 8%. The third option would be to transfer half of the debt subordinated debt repayment after nine years at 3% per annum, the remaining half of the debt will be repaid in eight years, the bank is willing to pay him 4% per year.
The proposal is based on quoted market prices, and we expect that it will not significantly affect the value of eurobonds Bank Nadra . We also believe that conditions will not be published the final version, and the parties will continue to look for a way to compromise, — considers S. Fursa.
He added that at present investors expect to resolve the situation with a nationalized bank - before the elections, the government can not prevent the bankruptcy of a financial institution with a broad portfolio of retail funding.
Thus, investors are able to delay the adoption of the final terms of restructuring, - said S. Fursa.
According trader Troika Dialog Ukraine Alexander Ublinskykh, this week in bank securities active buying seen in Ukrsotsbank 10 and Privatbank 12, sales have fallen to Vabank 10 and Alfa-Bank 12. Last week Iron and Steel Works 11 showed growth of 3% on the background of news about the attribution of the international rating agency Fitch rating at B . This Bond Myronivsky grain products have retained their positions.
five-year CDS for the week grew by 30 bps and was quoted at 1,245 basis points
The crisis in Ukraine will end after the election of new President Short bursts of more than 20 cottage townships, commissioning of which was planned in 2009, will put only a few … milk, vegetables and fruits have risen in price. But the meat is lost 10% of the price …
Oil prices on world markets went up again
GM is selling Hummer brand Chinese company, Sichuan Tengzhong
How much does the consumer basket today
Supreme hozsud confirmed the legitimacy of the sale 18,3% of Ukrtatnafta
From 2 to 9 October in the secondary market real estate prices in Kiev on one-room apartments dropped by 1,2%
In Belarus, a bribe does not exceed 500 thousand dollars
From 2 to 9 October lease rates for one-room apartments of Kiev have raised on 3,6%
No Comments, Comment or Ping
Reply to “The Ukrainian Eurobond market this week was dominated by sellers”