finclub.net
As of May 4, individual Ukrainians had invested more than UAH137
billion ($3.12 billion) in government
bonds, the Finance Ministry said on May 5.
Demand for the bonds has risen steadily among both
households and businesses. In April 2026, corporate holdings of Ukraine’s
domestic government bonds (OVDPs) were 28.5 percent higher than in April 2025,
while household holdings were up more than 61.3 percent year over year, the
ministry said.
By May 4, legal entities held more than UAH221.7 billion ($5
billion) in government securities. In April the ministry ran 12 OVDP auctions
that raised the equivalent of UAH17.3 billion for the state budget. The
weighted average yields were 15.67 percent annually on hryvnia bonds, 3.23
percent on USD bonds and 3.13 percent on EUR bonds.
The ministry also held a switch auction in April, attracting
about UAH5.7 billion of demand. Investors were offered the chance to exchange
bonds maturing May 20, 2026, for new bonds maturing June 13, 2029 — a term of
nearly three years. The shorter-term bonds were canceled because of the
operation, easing debt-service pressure on the budget this year.
More than UAH2 trillion ($45 billion) in government bonds
are currently outstanding. Commercial banks hold the largest share of the
portfolio at 47.09 percent, followed by the National Bank of Ukraine at 32.94
percent. Other holdings are divided as follows: legal entities, 11.07 percent;
individuals, 6.85 percent; insurance companies, 1.23 percent; nonresidents,
0.79 percent; and local communities, 0.02 percent.
The ministry added that domestic bond auctions in 2025
directed about UAH570 billion ($13 billion) to the state budget. Since the
start of Russia’s full-scale invasion, total funds raised through domestic
borrowing have topped UAH2.2 trillion. The Finance Ministry plans to raise up
to UAH420 billion ($9.6 billion) through domestic borrowing in 2026.
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