Ukraine. Oshchadbank starts selling treasury bonds
2012-10-11 11:01:06
Oshchadbank started selling treasury bonds of Ukraine, denominated in U.S. dollars and issued by the Finance Ministry.
Finance Ministry departmental director Halyna Pakhachuk, NBU departmental director Oleksandr Dubykhvist and Oshchadbank Deputy Board Director Anton Tiutiun have said at a joint conference, the UKRINFORM correspondent reports.
"State securities - treasury bonds of Ukraine - are issued in two series worth USD 200 million in the documentary form, to bearer, of USD 500 face value. "Oshchadbank stands as an authorized agent on the bonds' sale and purchase," Pakhachuk said.
According to her, a circulation term of securities is two years, yield - 9.2% annual. They have six-month coupons on which the yield will be paid at USD 23 per one coupon.
Every eight days cost of securities will grow by USD 1. For the time of the coupon yield payment, the sale is suspended and in five days it will start again from a face value with further price growth.
"Oshchadbank is obliged to repurchase securities at any moment at a price less than a sale price, but no less that a nominal price. Securities are designated only for natural persons, legal persons cannot purchase them. Operations with securities are not taxed.
Treasury bonds have a high protection level (no less than 15 protection elements). They are made at the NBU Banknote Printing and Minting Works.
"The mentioned securities are another instrument of the stock market," Dubykhvist said. Their advantage consists in the documentary form (opening of an account in securities is not needed), simplified identification of a person (up to the amount of UAH 150,000 identification is not needed). State securities will promote the stock market development, popularization of its instruments and financial knowledge of population.
As Tiutiun noted, treasury bonds expand a list of instruments, which is important for diversification of savings. The interest rate is average marketing. Over 500 Oshchadbank branches started their sale all over Ukraine - all district centers are involved.
Pakhachuk emphasized that the designated securities are issued with the aim of attraction of the investment resource on the internal market, which is cheaper against the foreign resource. In the current year, the government raised about USD 4 billion on the foreign market, whereas on the internal market - USD 3 billion. All obligations of Ukraine in the foreign currency make up USD 26 billion. 4% of obligations are in euros, 47% - in the hryvnia and other - special drawing rights.