Ukraine's newly restructured bonds hold ground on first day of trade

Ukraine bonds stable: Ukraine's newly restructured government bonds held their ground for the most part as they started trading on Tuesday.

Traders said there had been a flurry of early buying and selling despite a lack of clear direction.

Pricing lists, or 'runs' as they are referred to by bankers, showed Ukraine's new 2029 bonds - the shortest maturity of debt to come out of this month's restructuring - were broadly steady at just under 60 cents on the dollar.

Bonds maturing in 2034 and 2036, which will jump in value if Ukraine's economy enjoys a rapid recovery in the next four years, were bobbing around at almost 31 cents and 40 cents respectively.

Ukraine's debt restructuring was the second in a decade it was forced to undertake following a Russian invasion.

As part of the deal, bondholders accepted a 37 per cent writedown, or "haircut", to the face value of their holdings, getting a raft of new bonds with new terms in return.

The new bonds are set to be added to the main emerging market government bonds indexes tracked by investment funds and other money managers.