News and events

The JSC Ukreximbank has placed seven-year USD 250 million Eurobond rated Ba2 by Moody’s and BB- by Fitch, which is the largest single tranche offering by Ukrainian bank with the longest maturity.

Credit Swiss First Boston and UBS Limited acted as joint bookrunners of the transaction.

The pricing of 6,8% has set a new benchmark for Ukrainian corporate borrowers from international capital markets as lowest ever coupon on a fixed rate Ukrainian bond issue.

With hit ratio of 90%, a total of 144 investors participated in the transaction, of which 20 were new buyers of Ukrainian risk.

The high demand for the paper ensured eight-times oversubscribed order book of USD 1,2 billion for initial amount of USD 150 million and allowed to increase the deal to USD 250 million and to reduce its pricing below initial guidance of 7%. 

According to Chairman of the Board Victor V. Kapustin “Our target was to ensure favourable terms for effective development of economy of Ukraine by rendering credit and financial support to those Ukrainian enterprises, whose projects are aimed at structural economic and industrial modernisation and at development of export potential.

We believe success of the issue also proves recognition of success in economic development of the country and increase of confidence in Ukrainian banking system and ensures new outlook for partnership with international debt market” 

Distribution by Geography:

UK 35%
Swiss 25%
Asia 15%
Germany 7%
Greece 5%
Italy/Portugal/Austria 3% each
Rest of Europe 4%

Distribution by Investors:

Asset Management 41%
Banks 26%
Hedge Funds 7%
Private Bank and Retail Investors 22%
Insurance/Pension Funds 4%