Date: 10 months ago   Category: Economy

Placements of "blue chips" will recover the market of corporate bonds, - ICU is relevant


The largest Ukrainian monopolists, such as NAC Naftogaz, "DTEK" and same >
of Placement of debt securities of the largest Ukrainian monopolists, such as NAC Naftogaz, "Ukrzalinytsya" and DTEK can become most probable "blue chips", will give an impetus for development of the Ukrainian market of corporate bonds. Ruslan Kilmukhametov, the head of department of issue of debt securities of the ICU group has told about it during the discussion at the Ukrainian Financial Forum 2018 organized by group.

"In 2001-2005 rapid development of bond market has begun after several large and successful placements of corporate bonds. It is possible to distinguish from them bonds of Kyivstar, Raiffeisen of Bank, the airport "Boryspil", "Ukrzaliznytsi". After their success corporate bonds became the popular instrument of attraction of financing. We expect similar succession of events and this time. The largest Ukrainian monopolists, such as NAC Naftogaz, "DTEK" and same "Ukrzalinytsya" can become most probable "blue chips", - Ruslan Kilmukhametov has told.

Accommodation of such issuers is possible only with assistance of large banks as today they possess the greatest resource among financial institutions in Ukraine. "But at the moment banks consider purchase of bonds as the unsecured credit. And after two crises and considerable losses, they don't want to assume blank risk" - Ruslan Kilmukhametov notes. It returns us to questions of protection of the rights of creditors and improvements of investment climate, the expert is convinced.

"Besides, banks can act as large dealers and underwriters of corporate bonds. But their liquidity by the nature short, and someone who will buy their bonds is necessary for them. I.e. we speak about the final investor. As such investors, first of all, insurance companies, the investment and pension funds act, they can provide sustainable and long-term development of the market", - Ruslan Kilmukhametov comments. Unfortunately, today assets of institutional investors in tens or thousands of times there are less assets of a banking system and a neobkhodimymy condition of their growth is realization of pension reform and support of the insurance market.

Participants of a discussion in general have noted that the market of corporate bonds at which I have struck at first crisis 2008-2009 and in a consequence - "cleaning" of the Ukrainian banking system 2015-2016, has begun to revive. The foundation has been laid by releases of banks, Ukrposhta, the Rush company, the city of Lviv.

Reference.

passes the Ukrainian financial forum (UkrFinForum 2018) on September 20-21 in Odessa. About four hundred representatives of the financial market, the international and Ukrainian experts, investors, authorities and regulators discuss the prospects of development of domestic and world economy, the course of reforms in Ukraine, creation of conditions for investment.

acts as the Organizer of a forum ICU investment group.

the ICU Group - is independent

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