Ukrsotsbank Ups Planned Borrowings To USD 2 bln In 2007

Yesterday Ukrsotbank (USCB: BUY) announced that it had decided to attract around USD 2 bln by making two Eurobond issues, attracting two syndicated loans and using other forms of long term borrowing to boost its retail and corporate lending programs. In October of 2006 USCB said that it planed to attract USD 1.5 bln in 2006. In related news Standard & Poor’s announced that it may upgrade USCB’s long-term B credit rating following the completion of its acquisition by Banca Intesa.