Ukraine stuns market with pre-election cash grab

Ukraine (resized 230 x 150)
By Lewis McLellan
14 Mar 2019

Ukraine courted controversy this week, turning to the private market to tap its November 2028 bond. The trade caught the attention of investors and bankers, with some saying that JP Morgan had retained the deal and priced it well below the market rate. Lewis McLellan reports.

JP Morgan ran the tap on Wednesday, adding $350m to the November 2028 bond and taking the amount outstanding to $1.6bn. The original bond was issued in November last year.

Several sources away from the deal said the tap was priced at 99.25, considerably cheaper than ...

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