Ministry of Finance of Ukraine Launches Sale of Treasury Bills
OREANDA-NEWS. October 17, 2012. Starting from NOW, any individual will be able to buy certificated Treasury bills at face value of 500 USD at the offices of Oschadbank PJSC throughout the territory of Ukraine.
During a joint press conference, Ms. Halyna Pakhachuk, Director of Debt and International Financial Policy Department of the Ministry of Finance of Ukraine, Mr. Oleksandr Dubykhvist, Director of the NBU Department of Foreign Exchange Reserve Regulation and Transactions in the Open Market and Mr. Anton Tiutiun, Deputy Chairman of the Management Board of Oschadbank announced the commencement of placement of Treasury bills.
The Ministry of Finance of Ukraine launches the placement of certificated Treasury bills in bearer form at face value of 500 USD with a maturity of 24 months. The yield on Treasury bills stands at 9.2%. The issuance volume of Treasury bills totals USD 200 million.
According to Mr. Oleksandr Dubykhvist, the advantages of this investment instrument are obvious as their reliability is guaranteed by the state. The issuance of certificated securities in bearer form simplifies the procedure for purchase, circulation and redemption of Treasury bills.
Interest on Treasury bills is to be paid every six months at the offices of Oschadbank PJSC, starting from the second day after the end of the coupon period (dates are indicated on the coupons). The coupon payments are fixed, standing at USD 23 per each coupon attached to the Treasury bill.
Treasury bills are issued in two series: “A” and “B”. The issuance volume of each series totals USD 100 million. Treasury bills of next series are placed after the sale of the previous one. The redemption of a Treasury bill or repayment of the face value of the Treasury bill (USD 500) to the holder will be made at the offices of Oschadbank PJSC starting from the second day after Treasury bills reach the maturity date. The face value of the Treasury bill will be repaid together unpaid coupon payments accrued. The maturity date of Treasury bills (Series A) falls on 8 October 2014.
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