Ukraine’s IMF Deal Wins Over SocGen as Bonds Get Buy Tag - Bloomberg

Ukraine’s IMF Deal Wins Over SocGen as Bonds Get Buy Tag - Bloomberg:



"Societe Generale SA made Ukraine one of its top emerging-market bond recommendations after the country won an International Monetary Fund aid package to help stave off default.



The French bank raised its recommendation on Ukrainian bonds from neutral, saying the notes have the “largest overweight call” among emerging-market Eurobonds as the IMF pledged to help the country meet its debt maturities over the next two years. The government’s bonds due 2023 rose to 91.8 cents on the dollar yesterday, trimming the yield 0.59 percentage point to a two-month low of 8.84 percent. 




International lenders will provide $27 billion of loans after Ukraine takes steps to stabilize its economy, the IMF said in a statement yesterday. The government signed a political pact with the European Union a week ago, after the ouster of the pro-Russia President Viktor Yanukovych prompted Russia to stop lending to its former Soviet vassal state and annex the Crimea region."



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