5 June 2015
Bonds
Ferrexpo
2016s restructuring may effectively resolve distress risks
Second attempt to restructure remaining 2016s. On May 28, Ferrexpo announced a new consent solicitation for its US$286m in outstanding Eurobonds maturing in 2016. According to the offer, the 20 ...
ICUDebtInsight-20150605.pdf (359kb)
19 May 2015
Bonds
Banking Sector Insight
Guided recovery
The Ukrainian banking is close to hitting the bottom of the economic crisis. Net losses of UAH41.9bn in 2014 and UAH80.9bn in 1Q15 alone have wiped out 23.1% of the banks’ overall equity. The IMF has ...
ICUDebtInsight-20150519.pdf (2.1mb)
22 April 2015
Bonds
Ukreximbank
Eurobond restructuring offer
Ukreximbank seeks to extend EXIMUK15 by seven years with no haircut and with a higher coupon rate. As the current proposal is significantly more appealing to the bondholders, the high probability of r ...
ICUDebtInsight-20150422.pdf (323.1kb)
8 December 2014
Bonds
Banking Sector Insight
In a search of confidence
Our banking sector quarterly update focuses on the most recent financial data on banks – in this case, for 3Q14 – and discusses the latest developments in the sector as well as in the economy. In a nu ...
ICUDebtInsight-20141208-print.pdf (4.1mb)
1 December 2014
Bonds
Bond Market Insight
Keeping negative anticipations
Under its new parliament last week, only the Prime Minister was approved while other government appointments were not. As a result, financial market conditions remained unchanged from the last few ...
ICUDebtInsight-20141201.pdf (1.2mb)
11 November 2014
Bonds
Bond Market Insight
High risks and negative anticipations
Ukraine remains under the pressure of negative anticipations caused by high yields and highly limited access to financing. The further depreciation of the hryvnia and significant decline in FX rese ...
ICUDebtInsight-20141111.pdf (1.2mb)
24 October 2014
Bonds
Bond Market Insight
New challenges and risks
This year began with tremendous geo-global and domestic political volatility which immediately had an impact on the debt policy and financial situation in Ukraine. The reinstatement of the Ukrainian g ...
ICUDebtInsight-20141024.pdf (494.3kb)
23 October 2014
Bonds
Metinvest
1H14 results solid, but Donbass conflict has yet to take its toll
Despite slipping revenues, EBITDA and balance sheet strengthen. Metinvest reported revenues down 8% YoY to US$6bn while EBITDA increased 29% YoY to US$1.6bn and net income increased 46% YoY to ...
ICUDebtInsight-20141022.pdf (328.2kb)
