Ukrsotsbank To Issue USD 500-600 mln in Eurobonds in 1Q08

Ukrsotsbank (USCB: HOLD) is considering the possibility of issuing USD 500-600 mln in Eurobonds in 1Q08, Bank Chairman Boris Timonkin told Interfax. The issue would have a five-year tenor. Timonkin also said that bank shareholders would consider a share capital increase by about USD 500 mln in 2008. Earlier this week, the bank announced plans to make a local bond issue for USD 150 mln. Ukrsotsbank is Ukraine’s #4 bank by assets and is in the process of being acquired by Italian UniCredit Group, the deal is expected to be completed by the end of the year.