OREANDA-NEWS. October 15, 2010. Ukreximbank, the second largest bank in Ukraine, considers new Eurobond issue worth USD  250mn by October 2010, a market expert announced. The Eurobonds are long-term maturing in 2015 with a yield planned to be at 8%.

Millennium Capital views this news as positive for fixed income. Ukreximbank is a stable state-owned bank with a good credit record redeeming its debt. Millennium Capital believes that the bank will have no trouble in placing Eurobonds given that the demand for the previous April issue exceeded eight times the supply (USD 500mn) and lowered yield from 8.50% to 8.38%. The yield of 8% is adequate as it is on the par with a current yield the Ukreximbank Eurobonds are trading on the secondary market (7.4%), however the bank may succeed to slightly lower it.