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Ukraine signs Rothschild to advise on Eurobond issue

Ukraine's Finance Ministry has recruited such international financial institutions as BNP Paribas, J.P. Morgan, Goldman Sachs and Citi to arrange a series of meetings with investors and contracted Rothschild as a financial advisor within the framework of the issuance of new Eurobonds.

A statement on the ministry's website reads that the investors meetings will take place in London on 23 and 24 October, in New York on 23 October, and in Boston on 24 October.

Upon completion of the meetings, Ukraine is going to issue Eurobonds denominated in U.S. dollars under Rule 144A (for qualifying American investors) and Reg S (for non-American investors.)

As was reported earlier, Ukraine is planning to raise almost $2bn in international loans in 2018, which had been planned for the first half of the year. One of the options is to issue Eurobonds, Ukraine's acting Finance Minister Oksana Markarova said in a statement the previous week.

In September 2017, Ukraine issued 15-year Eurobonds to the tune of $3bn with a yield of 7.375%. The issuance was arranged by BNP Paribas, Goldman Sachs and JP Morgan. Together with issuing a new batch of Eurobonds, Ukraine's Finance Ministry repurchased Eurobonds that were to be redeemed in 2019 and 2020 to the tune of $1.576bn. Last year's deal was the first one for Ukraine to place Eurobonds on the international market since 2013. From 2014 to 2016, Ukraine placed $1bn worth of 5-year Eurobonds every year. Since the repayment of the bonds had been guaranteed by the United States, Ukraine managed to take loans at record-breaking rates.

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