Ukrsotsbank Ups Local Bond Placement To USD 100 mln

On Friday, Ukrsotsbank (USCB: BUY) announced that it would make a five-year USD 100 mln (UAH 500 mln) local series D bond placement with a 12% coupon for the first six coupon periods. Oleksandr Klymchuk: This is going to be the biggest issue ever in local currency from the banking sector, which has good potential to yield additional return when Banca Itesa completes its purchase of a controlling stake in USCB. USCB’s bonds and these other sizeable issues: Ukrsibbank, series C (UAH 450 mln);  Ukrsotsbank  C, Ukreximbank B, Ukrsibbank B (all UAH 300 mln), Privatbank J, Raiffeissen Bank Aval B, Bank Nadra B (all UAH 250 mln) are well above the  UAH 86 mln (USD 17 mln) average volume of the banking sector. It is notable that the size of local bonds has increased substantially as the average issue made in December and January is UAH 150 mln (USD 29.7 mln).