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. Last Updated: 07/27/2016

Ukraine Taps Capital Market

LONDON -- Ukraine, an unrated sovereign borrower, took its first step in the international capital markets Monday with a well-received $450 million one-year note issue.


The notes, which were issued at a discounted price, will raise around $410 million to be used for general budgetary purposes.


Ukraine was the only major Eastern European sovereign borrower that had not yet tapped international capital markets.


The notes, underwritten by Nomura International, were issued on a fiduciary basis by Bankers Trust Luxembourg SA.


The notes were priced to yield 3.25 percentage points over one-year dollar Libor, which on Monday was at 6.125 percent.