Demand for Ukrzaliznytsia eurobonds exceeds supply by 5 times
Ukrzaliznytsia places five-year eurobonds for $500 million at 8.25% per annum, which is significantly lower than the expected level, Yevhen Kravtsov, the chairman of the company's board, has said when commenting on the completion of pricing.
"More than 175 investors from the UK, continental Europe, the United States and Asia presented their offers to purchase the securities. Consequently, the demand was 5 times higher than the offer and reached $2.5 billion," he said on Facebook.
Kravtsov said that the fixed rate is more than 1.5 percentage points lower than the coupon on the existing issue of 2013.