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Ukraine's UkrSibbank plans USD50 mln eurobonds in Q1

October 03, 2003 | Reuters

Ukraine's leading commercial bank UkrSibbank said on Friday it planned to issue three-year eurobonds worth about $50 million in the first quarter of 2004. UkrSibbank, one of Ukraine's top 10 commercial banks, would place the bonds to increase commercial lending credits to producers, a spokeswoman said.

The bank, set up in 1990 and serving about 22,000 companies and 200,000 individuals in the country of 48 million, was seeking a yield of about 10 percent, analysts said. Several Ukrainian companies and cities have already announced plans to issue eurobonds next year, following a successful placement of Ukraine's sovereign 10-year eurobonds worth $800 million in June.

Earlier this week the government announced it would place an additional $200 million issue of its 2013 eurobonds.

Analysts said demand for Ukraine's corporate bonds was likely to be good as investors turned their attention to the country, soon to become a neighbour of an enlarged European Union, in their search for a new emerging market with high returns to replace neighbouring Russia.


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