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NBU Depository: Government Repayments to Redeem Domestic Debt Instruments Exceed Borrowings through Auctions to Sell Domestic Government Debt Securities by UAH 13.6 Billion

NBU Depository: Government Repayments to Redeem Domestic Debt Instruments Exceed Borrowings through Auctions to Sell Domestic Government Debt Securities by UAH 13.6 Billion

According to the NBU Depository, since russia launched its full-scale invasion of Ukraine to 4 July 2022, the amount redeemed by the government on domestic debt instruments has exceeded the volumes raised to the state budget through auctions to sell domestic government debt securities by UAH 13.6 billion. 

Specifically, from 24 February to 4 July 2022, the Ukrainian Government spent UAH 90.3 billion, USD 920.8 million, and EUR 168 million to redeem domestic government debt securities. Instead, UAH 85.6 billion, USD 496.1 million, and EUR 283.4 million were raised to the state budget from placement of new debt instruments in the domestic market.

In March, the government raised UAH 10.6 billion more through auctions to sell domestic government debt securities than it spent for redemption of domestic debt instruments. However, in April, May, and June, the balance of the government’s domestic debt transactions was negative and made UAH (-2.9) billion, UAH (-0.4) billion, and UAH (-21) billion, respectively. 

Interest rates on domestic government debt securities issued through auctions under martial law have not changed, making

  • 9.5%, 10%, 11%, and 11.5% per annum in hryvnia (maturities of 3 months, 6 months, 12 months, and 14 months, respectively) 
  • 3.5% and 3.7% per annum in U.S. dollars (maturities of 6 months and 12 months, respectively)
  • 2.5% per annum in euro (maturities of 3 months, 9 months, and 12 months).

Find below detailed statistics by NBU Depository on war bonds.

According to NBU Depository, as of 4 July 2022, the structure of the war bonds portfolio by holders has hardly changed. As before, primary dealer banks hold the largest portfolio of war bonds.

The second-large portfolio is held by Ukrainians and domestic businesses. It comprises: 

  • UAH 11.2 billion (13.5% of the total value of purchased hryvnia-denominated war bonds)
  • USD 114.7 million (23.1% of the total value of U.S. dollar-denominated war bonds)
  • EUR 35.9 million (nearly 12.8% of the total value of euro-denominated war bonds).

Nonresidents hold over UAH 1.2 billion in military domestic government debt securities.

Find out more about the military domestic government debt securities here. The table presents data at the amortized face value.

Today, everyone can purchase war bonds and strengthen the financial defense of Ukraine.

For reference

On 22 March 2022, the NBU began to publish weekly statistics of the NBU Depository related to war bond transactions. Follow the links below to review data as of

Differences between the amounts raised in auctions to sell war bonds and repayments on domestic debt instruments are presented in U.S. dollar equivalent at the NBU’s official exchange rates.

 

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Outstanding Military Domestic Government Debt Securities and the Number of Holders as of 4 July 2022
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