Kyiv redeems $250 mln in 2007 Eurobonds
KYIV. Nov 26 (Interfax) - Kyiv has fully redeemed a 2007 issue of Eurobonds (LPNs) worth $250 million, the city administration told Interfax on Monday.
"The funds have been sent," a source in the city administration told Interfax on Monday.
The source said that Kyiv should redeem a 2005 Eurobonds issue in 2015, also worth $250 million.
It was earlier reported that Kyiv placed municipal bonds on November 22 and raised 1.928 billion hryvni (over $250 million), which were earmarked for the redemption of the Eurobonds placed in 2007.
Kyiv placed $250 million in loan participatory notes (LPNs) in November 2007 with a rate of 8.25% and set to mature by November 26, 2012. The lead-managers on the issue were Citi, Credit Suisse, Deutsche Bank and UBS. The funds raised were used, for instance, for the construction of a bridge crossing, the Kyiv metro, and the reconstruction of tram lines.