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NBU Allowed Ukrainian Banks to Buy Back Eurobonds
Avellum Partners, Kyiv, Ukraine,
Fri, Aug, 11, 2017
With effect from 10 August 2017, Ukrainian banks no longer need an individual licence of the National Bank of Ukraine to buy back their Eurobonds issued under loan participation notes (LPN) structures.
This novelty provides additional toolkit and flexibility for Eurobond liability management transactions of Ukrainian banks.
This new rule came in addition to the earlier exemption from individual licencing requirement, which enabled Ukrainian banks to invest in high-grade bonds issued by international financial institutions (e.g. EBRD and IFC) or G7 member states.
Please follow the link to view the previous currency control liberalisations by the NBU.