Kyiv places $300 mln in 5-yr Eurobonds at 9.375% - source
KYIV. June 29 (Interfax) - The Ukrainian City of Kyiv has placed $300 million in five-year Eurobonds at 9.375%., a source at the city's administration told Interfax.
Investors from Russia, the United States and Britain bought most of the bonds.
Credit Suisse, Vnesheconombank and VTB Bank are the issue's organizers.
The funds raised from the issue will be used to refinance $200 million in current Eurobonds slated to mature on June 15, 2011, as well as over needs.
Kyiv currently has three Eurobond issues in circulation: Kyiv-2011 - placed in 2004 and worth $200 million, slated to mature on July 15, Kyiv-2015 - placed in October 2005 and worth $250 million at 7.98%, slated to mature on June 11 and Kyiv-2012 - placed in November 2007 worth $250 million at 8.25%, slated to mature on November 26.
International rating agency Fitch Rating has given Kyiv's upcoming $300 million Eurobond issue, slated to mature in July 2016, an expected long-term rate in forex of "B-(exp)".
Moody's Investors Service gave the upcoming issue a preliminary long-term debt rating in forex of "B2".