November 08, 2019 | Cbonds
|Full base of UAH-linked international securities is available on the Cbonds website. Now almost 100 such securities are in circulation, incl. CLN (“Credit-Linked Notes”) and GDN (“Global Depositary Note”), totaling more than $ 1 billion.|
Over the past few years, there has been a significant spike in the interest of global investors in Hryvnia instruments. For example, only in 2017-2019 such international financial organizations (EBRD, IFC, IBRD, FMO), global banks (Citibank, ICBC, J.P. Morgan, ING, SocGen, Nomura), as well as the state Ukreximbank, placed bonds with the peg to Hryvnia or Hryvnia government bonds. Often, settlements for such instruments are made in US Dollars, however, this year SocGen posted two issues with settlements in Euros.
Hryvnia Eurobonds are often acquired by global investment funds (PIMCO, Aberdeen Standard Investments, Allianz Invest, Lazard Funds, Global Evolution Funds, Deka Investment), however, more conservative investors represented by pension funds (Pension Danmark, Larernes Pension, etc.) are gradually joining them.
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