Ukrainian soldiers are seen in the northern part of Donetsk, Ukraine, on February 23, 2022.
Wolfgang Schwan | Anatolian Agency Getty Images
The Ukrainian government issued military bonds on Tuesday and said it had raised about 8.14 billion Ukrainian hryvnias ($ 270 million).
The country’s finance ministry said in a tweet that the bonds would yield 11% with a one-year term.
“The proceeds from the bonds will be used to meet the needs of Ukraine’s armed forces and to ensure the continued provision of the country’s financial needs during the war,” the ministry tweeted a day earlier. His website is currently down.
The face value of the bond is 1,000 hryvnia ($ 33).
The government also issued bonds with a term of two months and a 10% yield. That raised another $ 7 million.
The bonds were sold through dealers, including Citigroup, Austria’s Raiffeisen Bank and Budapest-based OTP Bank Nyrt, the Wall Street Journal reported, citing a conversation between a Ukrainian employee and investors.
CNBC asked the banks for comment.
Ukraine’s armed forces have largely restrained Russian troops since the invasion began last week. The smaller country has so far defended and retained control of key cities, while delaying Russia’s advance on the capital, Kyiv.
Although Ukraine’s resilience has surprised analysts, many still expect Russia to prevail, given Moscow’s vast military resources. In 2020, Ukraine’s military spending will be $ 5.92 billion, part of Russia’s $ 61.71 billion, according to the World Bank.
Ukraine has tried to raise funds in many ways as fighting continues and the Russian convoy heads to Kyiv.
The official Twitter account of the Ukrainian government on Saturday posted addresses for two crypto wallets, one accepting only bitcoin and the other accepting ether and teter, a token that tracks the value of the US dollar.
As of Sunday, those portfolios have attracted $ 10.2 million in cryptocurrency, according to a study by blockchain analysis firm Elliptic. This is in addition to the millions in digital currency donated to NGOs supporting the Ukrainian military.
– Ryan Brown of CNBC contributed to this report.