OREANDA-NEWS. February 21, 2011. To execute the Law of Ukraine "On State Budget of Ukraine for 2011" and according to the Cabinet of Ministers of Ukraine resolution dated 16.02.2011 No. 122 "On implementation of government foreign borrowing in 2011" the Ministry of Finance has taken a bond issue of external public borrowing for 2011 of 1.5 billion USD maturing in 10 years at an interest rate of 7.95% per annum in 144A/Reg S format.

Organizers of the issue were investment banks JP Morgan, Morgan Stanley and VTB Capital PLC.

The bond issue is successful both in terms of demand (book of applications volume was more than 3.7 billion USD), the number of applications (more than 200 pieces) and following the quality and geographical composition of investors.

High demand has allowed to place Eurobonds at a rate below the declared benchmark yield (8%) and to increase the borrowing of 1 billion USD to 1.5 billion USD.

Eurobond issues in 2011 showed the openness of the international debt capital markets for the Ukrainian state and the full trust of major financial investor in Ukraine, even in an unstable situation on the international capital markets.