Bank Forum Plans $100m Eurobond.

Bank Forum (FORM: HOLD), Ukraine’s 13th-largest bank by assets, announced plans to issue $100m of Eurobond by year-end. The bonds are expected to have a three year tenor. Citigroup and Standard Bank will manage the placement. Alexander Viktorov: The yield rate is expected to be in the range of 8.5-9%. Coming after a $49.5m share capital increase and a $60m syndicated loan drawn in March, the bond creates a strong financing base for further lending expansion and developing of Forum’s branch network, which is planned to double by year end. The relatively low cost of foreign funds will have a positive effect on the bank’s interest margin.