Prices of Ukrainian dollar Eurobonds against the backdrop of the start of the Russian military operation fell by 12:00 on Thursday by 19-27%, and by 18:00 – to 37-53% of the face value. It is reported by Interfax with reference to Bloomberg.
According to the agency, at 18:00 Kyiv time, the yield to maturity of the shortest bonds (maturity in September 2023) jumped to 186%, while their price fell to 53.2% of par. The rate on Eurobonds maturing in 2023 was 78.3% per annum, in 2024 – 54.1%, in 2026 – 41.5%, in 2027 – up to 31.8%. Bond rates maturing in 2029-2031 rose to 37.6-37.2%.
Russian Eurobonds grew slightly against the backdrop of the operation in Ukraine and the sanctions imposed for it – on February 24, their yield was 5.5-7.0% per annum, although a week ago it did not exceed 5% per annum.
For more information on how the sanctions affected Russian bonds, see Kommersant’s article “Sanctions on public debt seemed soft.”