Bloomberg News

Ukraine to Sell $1 Billion in Eurobonds Maturing in 2014

August 27, 2012

Ukraine will sell $1 billion worth of Eurobonds that mature in 2014 to refinance part of a $2 billion loan from Russia’s second-biggest lender VTB Group.

The bonds will have an annual coupon of 7.95 percent, the Kiev-based Cabinet said on its website today.

The Eastern European nation received a $2 billion six-month loan from VTB Group in 2010 and extended it three times. The loan had interest rate of 6.7 percent. Another $1 billion was repaid to VTB in June, according to the country’s Finance Ministry. Ukraine seeks to keep its budget deficit at 1.7 percent of gross domestic product this year.

To contact the reporter on this story: Kateryna Choursina in Kiev at kchoursina@bloomberg.net

To contact the editor responsible for this story: James M. Gomez at jagomez@bloomberg.net


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