DTEK bonds slide on corruption accusations
Ukrainian energy company DTEK is struggling to halt a slide in its bond trading since the National Anti-Corruption Bureau of Ukraine (NABU) issued notices of suspicion to six individuals — two of whom are DTEK employees — involved in a coal pricing controversy. The bonds have lost around five points in the space of a week.
The $1.275bn 10.75% 2024s were trading around 104 on Wednesday last week before the accusations began on Thursday. They fell to 102 on Thursday and to 100 on Friday. On Wednesday August 18, they stood at 99.6.DTEK said in a statement that there is “no valid reason ...
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