Lviv's UAH 300 mln local bond issue OKed by Finance Ministry

Lviv city official Andriy Sadovoyi said (via Interfax) that the Western Ukrainian city has received approval from the Finance Ministry and State Securities and Exchange Commission to issue UAH 300 mln in local bonds this quarter. The city plans for the securities to have a five-year tenor and a coupon rate of 20%. Lviv plans to use the proceeds to develop infrastructure ahead of co-hosting the Euro-2012 football tournament.