Ukrsibbank Places Eurobonds for USD 200 mln
16 July 2008
Ukrsibbank (M: Ba2; F: BB-), Ukraine’s third largest bank by assets, placed a three-year Eurobond issue for USD 200 mln, with an coupon of 7.375% paying semi-annually. HSBC Bank organized the issue. Oleksandr Klymchuk: The issue has the lowest coupon among all Ukrainian corporate Eurobonds, excluding the bonds issued by state-owned Ukreximbank in 2005. The low coupon rate reflects the fact that BNP-Paribas (S: AA; M: Aa1) owns a 51% stake in Ukrsibbank. This warrants the issue a benchmark status for the five other Ukrainian banking Eurobonds maturing in 2010.
