Corporate Communications

VTB Capital helps Ukraine raise its largest ever Eurobond offering

17 September 2010

VTB Capital successfully launched and priced a USD 2bn, 5 and 10 year dual-tranche benchmark issue for the Ukrainian Sovereign.

The order book rapidly grew to USD 6bn, skewed to the 10-year tranche, allowing VTB Capital to tighten the 10-year tranche by 12.5bps and print an impressive USD 2bn deal overall. The books remained open for one day benefiting from over 300 orders mostly from high quality accounts. The coupons were set at 6.875% and 7.75% respectively.

Andrey Solovyev, Global Head of DCM at VTB Capital, said: “This transaction represents the largest Ukrainian Eurobond issue ever and the first Eurobond by Ukraine since 2007. The issue generated considerable investor interest, with the final order book 3 times oversubscribed. VTB Capital has already been successful in managing Ukraine-based projects, such as the USD 500mn placement of Metinvest Eurobond issue in May 2010 and considers Ukraine is an important strategic market for VTB Capital.”

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