Finance Ministry Picks Lead-Manger For Eurobond Sale

Following a tender, the Finance Ministry selected a syndicate of banks composed of Credit Suisse, Deutsche Bank and UBS to manage the issuance and placement of Eurobonds in 2006. The ministry considered 6 proposals from 10 bank-participants. The underwriter fee for the syndicate of banks is set at 0.025% of the amount of the issue. Oleksandr Klymchuk: In accordance with legislation, the winner will sign an agreement on the assignment of services, after which they will immediately start to organize 2006 Eurobond issuances. We expect the issue to be offered in November. The underwriter fee is three times smaller than the fee for the lead managers of Ukraine’s 2005 Eurobonds maturing in 2015. This is evidence of Ukraine’s rising credibility in the eyes of foreign investors and increased underwriters’ competition on international markets for issuing sovereign Eurobonds.