The Ministry of Finance added euro-denominated domestic government bonds maturing on May 6, 2027, to the primary auction on Tuesday, December 9.
According to the updated placement calendar, the rest of Tuesday’s auctions remain unchanged: traditional offers of four issues of government bonds in hryvnia – 1.1 years, 1.7 years, 2.5 years, and 3.1 years, as well as 1.5-year dollar-denominated government bonds.
On November 18, the Ministry of Finance already held an unscheduled auction for the placement of OVDPs in euros, for which a total of EUR 6.7 million in bids were submitted for EUR 100 million, and the cut-off rate remained at 3.25%.
As for dollar-denominated government bonds, last Tuesday the Ministry of Finance refused to put them up for sale, and at the last auction on November 25, it was able to attract $121.2 million for offers of $200 million, but at the same time lowered the cut-off rate from 4.05% to 4.02%, and the weighted average rate from 4.01% to 3.98%.
As for hryvnia bonds, their placement rates have remained unchanged since April this year: 16.35% for 13-month securities, 17.1% for 19-month securities, 17.5% for 28-month securities, and 17.8% for 36-month securities per annum.
According to the updated placement calendar, there are currently no offers for either currency OVDPs or benchmark OVDPs, which banks can use to partially form reserves, at the last two auctions on December 16 and 23.
The second-largest Ukrainian mobile operator, VF Ukraine (Vodafone Ukraine, VFU), which, in connection with the payment of dividends at the end of May, repurchased its own Eurobonds worth approximately $17.7 million based on several offers, has announced another similar tender at a price of 98% of the nominal value for a total amount of $1 million 164.7 thousand.
As noted in a statement on the Irish Stock Exchange on Thursday, prior to this, on December 2, the company made another monthly tranche of dividend payments in the amount of UAH 49.315 million, which is equivalent to the monthly ceiling for such payments set by the National Bank at EUR 1 million.
Applications for participation in the tender will be accepted until December 17 inclusive, and settlements are planned by the end of the year.
Bonds maturing in February 2027 with a nominal rate of 9.625% per annum were issued for $300 million. The redemption of Eurobonds is related to the fact that on April 24, 2025, VFU announced the payment of dividends to its shareholder in the amount of UAH 660.245 million ($15.9 million at the exchange rate specified in the announcement) for 2024. According to the restrictions of the National Bank, they will be paid in separate monthly dividend payments. Each such monthly dividend is expected to amount to UAH 1 million. The company emphasized that under the terms of the bond issue, in this case, it must offer all bondholders to submit an application for their sale for an amount equal to the amount of dividends paid outside Ukraine.
In the first two tenders, Vodafone Ukraine repurchased bonds for an amount equivalent to EUR 1 million. The debut repurchase was announced at a price of 99% of the nominal value, the second at 90% of the nominal value. The company did not announce the results of the second buyback on the stock exchange, while the scaling factor for the first buyback was 0.0040355668.
Following the results of the third tender, where the redemption price was reduced to 85% of the nominal value and the offer was limited to $4.67 million, Vodafone Ukraine received bids for $53.395 million and satisfied them in the amount of $5.208 million. The scaling factor was 0.1315451889487317.
The fourth tender was announced on August 13, but was then extended seven times. As a result, the redemption price was increased from 85% to 98%, and the redemption amount to $10.84 million. The company received bids for $127.14 million for this amount. Some of the bonds were returned to their owners due to the impossibility of reducing the nominal value, and the rest were accepted with a scaling factor of 0.1150681.
As a result, on the settlement date of November 20, bonds with a total nominal value of $10 million 773.23 thousand were purchased under the tender offer. All of them were canceled, and after such cancellation, the total nominal value of bonds remaining in circulation is $281 million 759.03 thousand.
As reported, VFU increased its net profit by 10.7% to UAH 3 billion 446.80 million and its revenue by 13.3% to UAH 19.03 billion in the first nine months of this year.
The report noted that the company will receive loans from related parties this year to service and redeem Eurobonds. In February, the parent company Telco Investments B.V. provided $49.59 million for partial repayment of the Eurobond debt. In June, an agreement was signed with Telco Investments for a dollar credit line in the amount equivalent to UAH 660 million, at 10% per annum, maturing in 2028.
Finally, in July 2025, a loan agreement was signed with the Dutch company Cemin B.V. for $10 million at 10% per annum, with a repayment date no later than the end of 2027, but not earlier than the maturity of the Eurobonds. The funds are credited in tranches to the company’s bank account in a foreign bank and are to be used to redeem bonds, which Vodafone Ukraine is doing in connection with the resumption of dividend payments this year.
Metinvest B.V. (Netherlands), the parent company of an international vertically integrated mining and metallurgical group of companies, has paid another coupon on its 2029 Eurobonds and continues to fulfill its debt obligations, including to Eurobond holders, despite the war in Ukraine.
“We can confirm that the coupon was paid on time,” Andriy Burlakov, head of the Metinvest Group’s press service, told Interfax-Ukraine in response to a request.
The coupon payment date for Eurobonds-2029 is November 17.
“The coupon payment dates are May 17 and November 17,” according to the information on the 2029 bonds.
The coupon rate is 7.750% per annum.
Metinvest is a vertically integrated group of mining and metallurgical enterprises. Its enterprises are located in Ukraine – in the Donetsk, Luhansk, Zaporizhzhia, and Dnipropetrovsk regions – as well as in the European Union, the United Kingdom, and the United States.
The main shareholders of the holding company are SCM Group (71.24%) and Smart Holding (23.76%). Metinvest Holding LLC is the managing company of the Metinvest Group.
Metinvest paid the coupon on Eurobonds-2029 despite the war
The second-largest Ukrainian mobile operator, VF Ukraine (Vodafone Ukraine, VFU), which redeemed its own Eurobonds worth almost $7 million at the end of May in connection with the payment of dividends, has announced for the sixth time an increase in the redemption price at the fourth such tender – to 98% of par value from 96% two weeks earlier, 95% four weeks earlier, and 85% in the initial offer on August 13.
As stated in the company’s announcement on the Irish Stock Exchange, the maximum redemption amount has been increased by $2.9 million to $9.691 million.
The deadline for accepting applications has been extended from October 23 to November 6, and settlements are now planned for approximately November 13.
In the first two tenders, Vodafone Ukraine repurchased bonds worth EUR1 million. The debut repurchase was announced at 99% of par value, and the second at 90% of par value. The company did not announce the results of the second buyback on the stock exchange, while the scaling factor for the first buyback was 0.0040355668.
According to the results of the third tender, where the redemption price was reduced to 85% of the nominal value and the offer was limited to $4.67 million, Vodafone Ukraine received bids for $53.395 million and satisfied them in the amount of $5.208 million. The scaling factor was 0.1315451889487317.
Bonds maturing in February 2027 with a nominal interest rate of 9.625% per annum were issued for $300 million. After the cancellation of the redeemed bonds, the total nominal value of the bonds remaining in circulation is $292.532 million.
The redemption of Eurobonds is related to the fact that on April 24, 2025, VFU announced the payment of dividends to its shareholder in the amount of UAH 660.245 million ($15.9 million at the exchange rate specified in the announcement) for 2024. According to the restrictions of the National Bank, they will be paid in separate monthly dividend payments. Each such monthly dividend is expected to amount to UAH 1 million. The company emphasized that under the terms of the bond issue, in this case, it must offer all bondholders to submit an application for their sale for an amount equal to the amount of dividends paid outside Ukraine. Since then, six monthly dividend payments have been made, each equivalent to approximately EUR 1 million.
As reported, VFU reduced its net profit by 13% in the first half of 2025 compared to the same period last year, to UAH 1.705 billion, while its revenue grew by 15%, to UAH 13.518 billion.
The second-largest Ukrainian mobile operator, VF Ukraine (Vodafone Ukraine, VFU), which redeemed its own Eurobonds worth almost $7 million at the end of May in connection with the payment of dividends, has announced for the fourth time an increase in the redemption price at the fourth such tender – to 95% of the nominal value compared to 94% a week earlier, 92% two weeks earlier, 90% at the end of August, and 85% in the initial offer on August 13.
As noted in the company’s announcement on the Irish Stock Exchange, the maximum redemption amount has been increased by $0.5 million to $5.616 million.
The deadline for accepting applications has been extended from September 25 to October 9, and settlements are now planned for approximately October 16.
The first two times, Vodafone Ukraine repurchased bonds for an amount equivalent to EUR1 million. The debut repurchase was announced at a price of 99% of the nominal value, the second at 90% of the nominal value. The company did not announce the results of the second buyback on the stock exchange, while the scaling factor for the first buyback was 0.0040355668.
According to the results of the third tender, where the redemption price was reduced to 85% of the nominal value and the offer was limited to $4.67 million, Vodafone Ukraine received bids for $53.395 million and satisfied them in the amount of $5.208 million. The scaling factor was 0.1315451889487317.
Bonds maturing in February 2027 with a coupon rate of 9.625% per annum were issued for $300 million. After the cancellation of the redeemed bonds, the total nominal value of the bonds remaining in circulation is $292.532 million.
The redemption of Eurobonds is related to the fact that on April 24, 2025, VFU announced the payment of dividends to its shareholder in the amount of UAH 660.245 million ($15.9 million at the exchange rate specified in the announcement) for 2024. According to the restrictions of the National Bank, they will be paid in separate monthly dividend payments. Each such monthly dividend is expected to amount to UAH 1 million. The company emphasized that under the terms of the bond issue, in this case, it must offer all bondholders to submit an application for their sale for an amount equal to the amount of dividends paid outside Ukraine. Since then, five monthly dividend payments have been made, each equivalent to approximately EUR 1 million.
As reported, VFU reduced its net profit by 13% in the first half of 2025 compared to the same period last year, to UAH 1.705 billion, while its revenue grew by 15%, to UAH 13.518 billion.
Vodafone Ukraine (VFU), Ukraine’s second-largest mobile operator, which has repurchased its own Eurobonds worth almost $7 million since the end of May as a result of three offers in connection with the payment of dividends, has announced for the third time an increase in the redemption price in the fourth such tender — to 94% of the nominal value compared to 92% a week earlier, 90% at the end of August, and 85% in the initial offer on August 13.
As noted in the company’s announcement on the Irish Stock Exchange, the maximum repurchase amount remained at $5.12 million, up from $3.945 million the week before last.
The deadline for accepting applications has been extended from September 18 to September 25, and settlements are now scheduled for approximately October 2.
The first two times, Vodafone Ukraine repurchased bonds for an amount equivalent to EUR1 million. The debut repurchase was announced at a price of 99% of par value, the second at 90% of par value. The company did not announce the results of the second buyback on the stock exchange, while the scaling factor for the first buyback was 0.0040355668.
According to the results of the third tender, where the redemption price was reduced to 85% of the nominal value and the offer was limited to $4.67 million, Vodafone Ukraine received applications for $53.395 million and satisfied them in the amount of $5.208 million. The scaling factor was 0.1315451889487317.
Bonds maturing in February 2027 with a coupon rate of 9.625% per annum were issued for $300 million. After the cancellation of the redeemed bonds, the total nominal value of the bonds remaining in circulation is $292.532 million.
The redemption of Eurobonds is related to the fact that on April 24, 2025, VFU announced the payment of dividends to its shareholder in the amount of UAH 660.245 million ($15.9 million at the exchange rate specified in the announcement) for 2024. According to the restrictions of the National Bank, they will be paid in separate monthly dividend payments. Each such monthly dividend is expected to amount to UAH 1 million. The company emphasized that under the terms of the bond issue, in this case, it must offer all bondholders to submit an application for their sale for an amount equal to the amount of dividends paid outside Ukraine. Since then, five monthly dividend payments have been made, each equivalent to approximately EUR 1 million.
As reported, VFU reduced its net profit by 13% in the first half of 2025 compared to the same period last year, to UAH 1.705 billion, while its revenue grew by 15%, to UAH 13.518 billion.
