Kyiv Looking To Make USD 250 mln Eurobond Issue In 2007

The Kyiv City Council plans to vote on making a USD 250 mln Eurobond placement in 2007. Oleksandr Klymchuk: Kyiv has three outstanding Eurobond issues totaling USD 600 mln and is the only municipal entity in Ukraine which has issued Eurobonds. This announcement confirms our previous expectation of the fourth Eurobond issue to be made this year, we also believe that the volume of USD 250 mln can be raised. Still we don’t expect the issue to be made this quarter as in accordance with Ukrainian Legislation a City Council needs clearly define borrowing purposes and get approval of the Finance Ministry, moreover, if Kyiv is going to issue Loan Participation Notes, corresponding loan agreement needs to be registered with the NBU.