During January-March 2025, the Ukrainian government raised almost UAH 104 billion in equivalent from the placement of government bonds at auctions: UAH 76,022.1 million, $455.8 million and EUR 191.4 million. This is evidenced by data from the NBU Depository, the regulator's press service reports.
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Since the beginning of the year, UAH 83,319.8 million, $671.7 million and EUR 319.7 million have been allocated for the repayment of domestic government debt securities.
In total, from the beginning of the full-scale invasion until March 31, 2025, the Ukrainian government raised UAH 1.6 trillion equivalent at primary auctions: UAH 1,128,004.7 million, $8,801.2 million and EUR 2,659.5 million, and EUR 8 million and EUR 2,488.6 million.
Yield of OFZs
The maximum yield on government bonds placed at auctions in March was 17.45% per annum in hryvnia, 4.50% per annum in US dollars, and 3.25% per annum in euros.
Military government bonds
Below is detailed statistics from the NBU Depository as of April 1, 2025, exclusively in relation to military government bonds that were placed at auctions.
The largest volume of these securities is still concentrated in banks – primary dealers.
The second largest portfolio is the military bond portfolio owned by Ukrainian citizens and businesses. As of April 1, 2025, it amounted to:
- UAH 106,625.8 million, or 32.6% of the total volume of purchased hryvnia military government bonds (as of March 1, 2025 — UAH 103,325.2 million, or 31.5%); $1,612.9 million, or 60.6% of the total volume of military government bonds denominated in US dollars (as of March 1, 2025 — $1,745.8 million, or 62.8%); EUR 168.8 million, or 39.1% of the total volume of euro-denominated government bonds (as of March 1, 2025 — EUR 353.0 million, or 62.8%).
The total portfolio of military bonds owned by individuals and legal entities as of April 1, 2025 amounted to UAH 181.0 billion in equivalent, compared to UAH 107.8 billion in equivalent as of April 1, 2024. Over the past year, it has grown almost 1.7 times.
The volume of military bonds of domestic government loans owned by non-residents as of April 1, 2025 amounted to UAH 9,906.8 million, $28.1 million and EUR 0.1 million.
In March 2025, the Ministry of Finance of Ukraine repaid military government bonds in the amount of UAH 20,617.8 million, $318.4 million and EUR 319.7 million.
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