The 10-year euro-denominated bond was oversubscribed, priced at a yield of 4.375 percent which surprised many analysts and Ukraine watchers. Konstantin Stetsenko, founding partner of ICU, the leading asset manager in Ukraine, noted that Ukraine would not have been able to sell the bond at such a low yield a year before.

Since the beginning of 2019, international investors have been among the most notable players in the Ukrainian government bond market ... “However, this trend is slowly shifting as we now see investments from local non-financial enterprises, insurance companies and private investors who are increasingly investing into domestic government bonds,” said Konstantin Stetsenko, Founding Partner, ICU Group...

The NBU’s affiliation with Clearstream played an important role in increasing investor confidence in Ukraine’s capital markets as it took them more than three years to put the mechanism in place, and it appears to have paid off already. This wasn’t the case two years ago according to Konstantin Stetsenko, founding partner of ICU, Ukraine’s leading asset manager. Mr. Stetsenko said that the holding of foreign investors in Ukrainian bonds was barely above zero...

The second largest solar power plant in Ukraine was officially put into operation last month. The power plant is a joint-venture by ICU and VR Capital Group and is situated in the Kamianets-Podilskyi district of the Khmelnitsky region.  ICU, an independent asset management, private equity and investment advisory firm specialising in Central and Eastern Europe which is majority owned by Makar Paseniuk and Konstantin Stetsenko, together with VR Capital Group, an alternative asset manager specializing in global emerging markets, have invested US$55m on the project.