FUIB to issue domestic and foreign loan bonds in hryvnias in equivalent of $100m in H2, 2011

The First Ukrainian International Bank (FUIB) plans to issue domestic and foreign loan bonds in hryvnias to the equivalent of $100 million in H2, 2011, Dmitriy Yurgens, the bank's deputy board chairman for the investment business, told the press on Tuesday.

"We have plans to make a pilot issue in H2, 2011. May be it will be [domestic] bonds or foreign [securities]… in hryvnias like Ukreximbank issued [eurobonds in hryvnias]. I think that it would be within $100 million in the [hryvnia] equivalent," he said.

He said that the bond might mature in three years and have an annual buyback offer.

The FUIB was founded in 1991. The largest stockholder in the banks as of January 1, 2011, was SCM Finance Ltd. with an 89.87% stake in FUIB.

According to the National Bank of Ukraine, as of January 1, 2011, the bank ranked 13th in terms of overall assets among the 175 banks operating in Ukraine (UAH 18.098 billion).