OREANDA-NEWS. April 23, 2010. Joint Stock Company The State Export-Import Bank of Ukraine (JSC Ukreximbank) has placed five-year USD 500 million Eurobond rated B1 by Moody’s and B- by Fitch, reported the press-centre of Ukreximbank.

This first offering by a Ukrainian issuer ever since the credit crisis has set a benchmark for the Ukrainian corporate borrowers from international capital markets.

The strongest investors demand for the high-quality credit brought the order book to a total of USD 3.7 billion allowing to finalise the deal at USD 500 million and to launch its pricing at the tight end of the initial guidance, bringing it down to 8.375% or 577.7bp over US Treasuries. Ukrexim successful marketing caused strong rally in the Ukrainian bonds in the course of the road-show.

Credit Swiss and Citi acted as joint bookrunners of the transaction.

A total of 152 investors participated in the transaction, with lots of new buyers of Ukrainian risk. Real money accounts dominating in the book ensured its high quality.

Distribution by Geography:

UK - 35%

Others - 35%

Swiss - 9%

Netherlands - 7%

Germany/Austria - 6%

Asia - 4%

France - 4%

Distribution by Investors:

Asset Manager: 80%

Bank: 12%

Retail: 4%

Others: 3%