Kyiv places UAH 1.9 bln in local bonds, to repay Eurobond today

The Kyiv City Administration (CITKIE) placed for sale 3-year municipal bonds for UAH 1.93 bln (USD 240 mln) on Nov. 22, its press service announced on Friday, Nov 23. The placement was bought by the offering’s underwriter Ukreximbank (EXIMUK) at yields of 15.20%-15.25%, according to the deputy head of city administration. He assured the markets that Kyiv city will repay its USD 250 mln Eurobond (due today) on time.

Alexander Paraschiy: While there was no doubt that the Kyiv city would able to secure funds on the market, the way it was done – at the last minute and solely from state-controlled bank – doesn’t inspire confidence in the state organ’s financial management. We look forward to seeing Kyiv city repay its debt today.