Kyiv mulls eurobond
The Kyiv City Administration does not rule out a possibility of a eurobond sale, a source in the city administration told Ukrainian News.
“We are in talks with a bank on it purchasing domestic bonds in full. We have not reached any agreement yet and if it is not reached soon we will tap the international markets,” said the source.
The source did not disclose the name of the bank. If no agreement is reached the city will issue a eurobond and cancel domestic bonds.
On June 25 the Kyiv City Administration launched Series В, С, D, E and F bond sale amounting to UAH 3.5bn.
The coupon was set at 15.25%.
On May 24 the Kyiv City Council approved RUB 3.5bn in 3-year domestic bonds paying 15.25% or less.
According to the prospectus, the sale was scheduled to take place on the Perspectiva Stock Exchange and the PFTS.
Ukreximbank is mandated to act as underwriter on the issues.
Series В issue amounts to UAH 1.125bn; Series С issue is worth UAH 250m, Series D issue is worth UAH 500m, Series Е issue is worth UAH 750m, and Series F issue is worth UAH 875m.
Series В issue is due October 5, 2014; Series С issue is due October 19, 2014; Series D issue is due November 2, 2014; Series Е issue is due November 16, 2014; Series F issue is due October 4, 2015. The bonds must be repaid within 3 days from their maturity date.