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23 August 2017
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Ukraine places eurobonds

Ukraine secured a new ten-year loan of $1bn

On Wednesday Ukraine secured a new ten-year loan of $1bn on the international capital market under Regulation S Rule 144A at an annual interest rate of 6.58 percent, the press office of the Ukrainian Finance Ministry reported, according to RBC. The lead managers of the borrowing were Credit Suisse, Deutsche Bank, and UBS Investment Bank.

       The road show was held on November 10-14 in Los Angeles, New York, and London. The overall demand exceeded $2.4bn.

       According to Ukrainian Deputy Finance Minister Sergei Makatsaria, the country expected to end 2006 with a $2.55bn deficit, which should have been compensated for by loans and privatization earnings. However, in the first eight months of 2006 the country borrowed neither on the domestic nor on the international capital market, and privatization brought only 10 percent of the estimated annual target. Hence, the government was forced to look for funds to bridge the gap.

       Makatsaria also said that international experts found this loan to have the lowest interest margin compared to the previous borrowings.

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