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Bond Market News
Ukraine’s Dollar Bonds Rise Amid US Talks; Zelensky Ready to Give Up Leadership for Peace
February 24, 2025
Ukraine’s dollar bonds were higher by over 2 points across the curve. Both US and Ukraine had sought to finalize a deal on critical minerals, as per sources. The US had initially proposed to securing 50% of license sales and other proceeds from the minerals, that would violate Ukrainian laws as per a source. The US has now sent a revised and improved version, which includes language on future assistance. However, as per the latest update, Ukraine has pushed back against US’ demand for a $500bn fund, as part of a deal to give US a cut of Ukraine’s mineral wealth. US Treasury Secretary Scott Bessent wrote that the deal proposes revenues received by Ukraine from natural resources, infrastructure and other assets be allocated to a fund focused on long-term reconstruction and development of Ukraine. Regarding this, the US will have economic and governance rights. Besides, the two nations also discussed ways to end the ongoing Russia-Ukraine war. Regarding this, Ukrainian President Zelensky said that he was ready to “give up” his leadership if it were to bring about peace in his nation or help Kyiv becoming a member of the NATO.
Ukraine’s 1.75% 2029s were up 2.7 points to 72.31, yielding 14.22%.
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