Ukraine

Ukraine ranked 54th globally in terms of GDP and 38th in terms of purchasing power parity GDP in 2012. The country’s nominal GDP stood at $176bn last year, translating into $3,865 per capita. Real GDP growth slowed to 0.2% last year as weak external demand took a toll on the export-oriented economy. We forecast economic growth will remain close to zero in 2013 and recover to +1.5% in 2014.

Bond Information

Year 2024 2025 2026 2027 2028 2029 2030 2031 2032 2034 2035 2041
Issue Volume ($m) 1383.692 1355.231 1339.057 1328.887 825.0 1307.161 1600.0 1750.0 1250.0 3000.0 2600.0 3239.32
Coupon Rate (% p.a.) 7.75% 7.75% 7.75% 7.75% 6.875% 7.75% 9.75% 6.876% 4.375% 7.375% 7.253% _%
Coupon Frequency 2 2 2 2 2 2 2 2 1 2 2 1
Maturity date 9/1/2024 9/1/2025 9/1/2026 9/1/2027 11/9/2028 9/1/2029 11/1/2030 5/21/2031 1/27/2032 9/25/2034 3/15/2035 8/1/2041
Ratings: Moody's/S&P/Fitch WR/CCC+/NR Caa3u/CCC+/CC Caa3u/CCC+/CC Caa3u/CCC+/CC Caa3/_/CC Caa3u/CCC+/CC _/CCC+/CC _/CCC+/CC _/CCC+/CC _/CCC+/CC _/CCC+/CC _/CCC+/_
Market Price* 24.5 23.0 22.0 21.5 17.5 21.5 22.0 20.0 18.5 20.0 20.0 32.5
Market YTM* 130.78% 81.85% 63.11% 53.03% 47.97% 42.19% 41.85% 35.89% 32.44% 33.48% 32.93% %
Spread over UST* 12652.27 7789.21 5932.46 4934.94 4433.21 3854.9 3821.69 3230.49 2768.53 2929.93
Note: *Based on bid price.

Issuer Financials

Year 2017 2018 2019 2020
GDP ($bn) 112.1 130.9 154.2 156.6
GDP per Capita ($) 2,644 3,106 3,679 3,755
Total Public Debt ($bn) 76.3 78.3 84.4 90.3
Total Public Debt (% GDP) 71.84% 60.90% 50.24% 60.45%
Debt to IMF ($bn) 14.0 13.3 11.2 12.8
Ext. Debt w/o IMF ($bn) 35.0 36.9 37.7 40.9
Ext. Debt w/o IMF (% exports) 64.86% 62.36% 59.38% 67.37%
Gross F/X Reserves ($bn) 18.8 20.8 25.3 29.1
UAH:$ (e-o-p) 28.07 27.69 23.69 28.28
UAH:$ (avg.) 26.60 27.20 25.80 26.96