The sovereign support bonds will expire on August 24, 2027, the Independence Day of Ukraine.
The Government of Canada has completed the placement of a five-year sovereign bond for 500 million Canadian dollars (about $370 million) to help Ukraine. This was reported on the Canadian government website on Wednesday, November 30.
It was noted that the investors were mainly from Canada, about $50 million was invested by individuals. Bonds are also purchased by institutions and organizations, including central banks.
“These funds will help the government of Ukraine to continue to provide Ukrainians with all necessary services this winter – such as paying pensions, buying fuel, rebuilding energy infrastructure… AAA rating,” said the statement.
After negotiations with the Ukrainian authorities, according to the proceeds from the bonds will be transferred to Ukraine in the form of a loan through the IMF.
It is known that interest on bonds (3.3%) will be paid twice a year – on February 24 and August 24.
The sovereign support bonds will expire on August 24, 2027, the Independence Day of Ukraine. Bondholders then receive the full amount of their initial investment.
“Thank you for your support to Justin Trudeau, Christa Freeland and all Canadians who bought bonds,” Ukrainian Prime Minister Denys Shmyhal wrote in Twitter.
It was previously reported that Canada has allocated millions of dollars for generators in Ukraine. Also, separate funding is provided to support the operation of the Black Sea Grain Initiative.
News from Correspondent.net on Telegram. Subscribe to our channel Athletistic
Source: korrespondent
I am David Wyatt, a professional writer and journalist for Buna Times. I specialize in the world section of news coverage, where I bring to light stories and issues that affect us globally. As a graduate of Journalism, I have always had the passion to spread knowledge through writing.