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Canada begins collecting applications for purchase of five-year bonds for CAD 500 mln in support of Ukraine
KYIV. Nov 18 (Interfax-Ukraine) – The Government of Canada begins collecting applications for the purchase of five-year bonds for CAD 500 million (about $373.4 million at the current rate) – Ukraine Sovereignty Bonds – for financial support of Ukraine, offering to submit them until November 29 through participating financial institutions.
According to the information on the government’s website, the issue of bonds is scheduled for the end of this month. The nominal value is CAD 100. The current yield is about 3.3% (depending on market conditions at the time of placement).
Coupons on bonds will be paid twice a year – on February 24 and August 24, and redemption is on August 24, 2027.
The bonds are planned to be placed mainly among Canadians, but citizens of other countries can also buy them.
According to the report, the funds raised will be provided to Ukraine as a loan through the IMF administered account the after negotiations with Ukraine, and its terms will take into account the deferral of payments provided by the Paris Club from August 2022 to December 2023.
