XXI Century Investments To Make Eurobond Placement

XXI Century Investments (XXIC LN), one of Ukraine’s largest real estate development and investment companies, announced that it was making its debut Eurobond placement. ING is lead managing the offer. Media reports have suggested the size of the placement will be around USD 150 mln. Andriy Gostik: raising additional debt is a logical step for the company, as it is highly underleveraged while at the same time its extensive project pipeline requires external financing. According to the company’s IFRS financials prepared by Baker Tilly Intl, its debt/equity ratio was close to 0.03 in 2006.