Ukreximbank Completes USD 500 mln Eurobond Issue

Ukreximbank, Ukraine’s fourth largest bank in asset terms, completed the placement of loan participation notes for USD 150 mln, completing its USD 500 mln Eurobond issue. Ukreximbank’s additional issue of USD 150 mln was sold out in four hours at 1.25% premium to par, or s 7.33% yield, 32 bps lower than the yield these bond were offered at in September. Oleksandr Klymchuk: Ukrexim’s success crowns the most active period in Ukrainian corporate Eurobond history, during which six issuers placed Eurobonds in September-November, resulting in a record volume of primary market supply and increased outstanding volume of nearly USD 4 bln – in line with our conservative forecast for 2006. Watch for our analyst notebook on Ukreximbank today.