Ukraine’s Eurobonds Snap Decline as Templeton Praises Government - Bloomberg:
"Ukraine’s dollar debt due in 2023 gained for the first time in four days after Franklin Resources Inc., the biggest holder of the notes, said it was encouraged by the government’s policies to deal with an economic crisis.
The yield on bonds due April 2023 fell seven basis points to 9.47 percent by 12 p.m. in Kiev, according to data compiled by Bloomberg. Sovereign debt maturing June 4 rose 0.61 cents to 97.53 cents on the dollar.
Franklin Templeton Investments (BEN) boosted holdings of Ukrainian bonds in the fourth quarter even as the nation faced insolvency and civil unrest, leading to the installation of a new government in February. While Ukraine remains at the center of the biggest confrontation between Russia and the U.S. since the Cold War, Templeton is focusing on its “long-term potential” and the “encouraging” measures of the new administration, the fund manager said on its website yesterday."
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