Ukraine Egg King Bond Fortunes Tied to Putin - Business:
"Holders of Oleg Bakhmatyuk’s dollar bonds have no shortage of causes for concern as Ukraine’s egg king battles with the fallout from a swooning currency, questions on governance and insurgency in the country’s east.
Instead, the bonds are gaining as investor sentiment perks up with the conflict against Russia abating. The $500 million of notes due March 2018 from Bakhmatyuk’s UkrLandFarming holding company have climbed about 10 percent to 87.35 cents on the dollar since the start of May. Debt maturing in October 2015 issued by Avangardco Investments Plc, the group’s London-traded egg-production unit, is at 95.63 cents, from 90.5 cents on May 9, according to prices on Trace.
Appetite for Ukraine’s government and corporate debt is responding to signs of progress in easing the turmoil and after a $17 billion bailout approved by the International Monetary Fund on May 1 staved off financial collapse. Russian President Vladimir Putin held his first talks with Ukraine’s new leader, Petro Poroshenko, on June 6 and met with President Barack Obama in meetings brokered by France, which sought to use the backdrop of D-Day commemorations to ease tensions."
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