Ukraine raises 8 billion UAH from the first sale of military bonds

TUESDAY, 1 MARCH 2022, 5:26 PM

Ukraine has raised 8 billion UAH in a military auction on Tuesday for a period of one year.

This was reported on the Ministry of Finance webpage.

The Ministry of Finance satisfied all ten applications with an interest rate of 11% per annum. The repayment date is March 2023.

There was also an additional placement of government bonds for a period of two months, from the sale of which the budget received an additional 20.7 million UAH at a 10% per annum.

Overall, the country will receive 8.1 billion UAH due to the sale of liabilities on Tuesday.

Military bonds provide additional funding to the budget which is used exclusively to meet the needs of the Armed Forces of Ukraine and the uninterrupted financial need provision of the state under martial law.

The issue of securities is planned in the amount of up to 400 billion UAH.

Ukraine had already issued such bonds in 2014, during the war in eastern Ukraine. This previous round of bonds amounted to 1.1 billion UAH.

As a reminder:

The Ministry of Finance offers Ukrainians, businesses and foreign investors to support Ukraine's budget by investing in military domestic government bonds.

The buyer of military bonds which are planned to be issued in the amount of up to 400 billion UAH, will be the National Bank.