Vodafone Ukraine and Raiffeisen Bank International have entered into a derivatives management contract.
It allows Vodafone to hedge currency risks in the international borrowed capital market with the help of Raiffeisen Bank International, which is one of Vodafone Ukraine’s main international partners in the banking sector.
Vodafone notes that this is the first contract for the management of derivatives, which was concluded after law “On Capital Markets and Organised Commodity Markets” came into force in last month. All Ukrainian companies can now take advantage of the legislation.
It adds that the agreement has become another effective financial tool for Vodafone.
The company has been successfully operating in the international debt capital market since 2018.
In February 2020, Vodafone Ukraine successfully issued Eurobonds on the foreign stock market – 5-year bonds (“Eurobonds”) – to the amount of $500 million with a yield of 6.20%.
The bonds received a B rating from Fitch and S&P Condition on May 24, 2021.
