Ukreximbank places USD 100 mln, 10Y subordinated bond

Ukrainian State Export-Import Bank (Ukreximbank,
EXIMUK) has decided to place a subordinated Eurobond for USD 100 mln, the Interfax
news agency reported on Nov. 7, citing its sources. The expected interest rate
for the issue is 9.95%, maturing in ten years and callable in five years. The
placement is planned to be completed next week.

Alexander Paraschiy: This is the second internatiomal debt issuance of Ukreximbank since
Ukraine’s financial collapse of 2014. Last year, the bank placed a
UAH-denominated international bond. The reported rate looks justified for a
subordinated bond issue, so we expect the placement will be successful. A
small, subordinated and callable bond is very unlikely to be liquid.