Ukraine international bonds rally after Kyiv and Washington sign minerals deal
Ukraine's international debt rallied more than 2 cents on Thursday after Kyiv and Washington signed a deal that will give the United States preferential access to new minerals in the country and fund investment reconstruction.
The 2036 bond gained 2.2 cents in the dollar to be bid at 51.677 cents, Tradeweb data showed, while the GDP-linked warrants added 2.1 cents to 72.40 cents. Many of the instruments enjoyed their biggest gains since mid-April, but were still trading in deeply distressed territory.
For the latest updates on the Russia-Ukraine war, visit our dedicated page.
The two countries signed the accord in Washington on Wednesday after months of sometimes fraught negotiations. The deal establishes a joint investment fund for Ukraine's reconstruction as US President Donald Trump tries to secure a peace settlement in Russia's three-year-old war in Ukraine.
'Kyiv hopes the US may also increase defense aid, which would be useful given Europe and the UK just admitted they can't find enough troops for the peacekeeping contribution they'll have to make,' said Michael Every, senior market strategist at Rabobank.
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