Ukrsotsbank Issues USD 99 mln in Local Bonds
5 March 2008
Ukrsotsbank (USCB: BUY) issued UAH 500 mln (USD 99 mln) in five-year local bonds with a coupon of 12% for the first year of circulation. According to Interfax, thanks to the oversubscription the bonds were placed at 10% yield. As of January 1, 2008, Ukrsotsbank was the fourth largest Ukrainian bank by assets. In January 2008, Italian UniCredit Group completed acquisition of a 94.2% stake in Ukrsotsbank for EUR 1.53 bln (USD 2.21 bln).
