Ukraine Cancels Eurobond Placement After National Bank Chief's Resignation Notice- Reports

Ukraine Cancels Eurobond Placement After National Bank Chief's Resignation Notice- Reports

Ukraine has canceled the placement of 12-year eurobonds in the amount of $1.75 billion after National Bank Governor Yakiv Smolii's notice of resignation, local media reported on Thursday, citing representatives of major investment companies

KIEV (Pakistan Point News / Sputnik - 02nd July, 2020) Ukraine has canceled the placement of 12-year eurobonds in the amount of $1.75 billion after National Bank Governor Yakiv Smolii's notice of resignation, local media reported on Thursday, citing representatives of major investment companies.

A source in the banking community has previously told Sputnik that Ukraine placed on Wednesday the 12-year eurobonds in the amount of $1.75 billion with a yield of 7.3 percent per annum.

According to the LIGA.net agency, the placement was canceled "at the initiative of the emitent."

On Wednesday, Smolii, who served as the National Bank governor since March 2018, submitted a letter of resignation to Ukrainian President Volodymyr Zelenskyy. Smolii said the decision was motivated by "systematic political pressure" on the National Bank. Members of the executive board pledged to continue working for the sake of macro-financial stability.

Under the Ukrainian legislation, the parliament appoints and dismisses heads of the National Bank on a presidential submission.