State-owned Oschadbank (Kyiv) on September 10, 2018 paid the $32.8 million coupon on restructured $700 million eurobonds in full amount and in accordance with the issue terms, the press service of the bank has told Interfax-Ukraine.
The yield on eurobonds is accrued and paid twice a year – on March 10 and September 10.
As reported, in 2015, Oschadbank restructured eurobonds maturing in 2016 and 2018 for a total of $1.2 billion. Under the agreement, eurobonds were issued for the amount of $700 million due on March 10, 2023 and with the yield of 9.375% per annum, for $332.914 million due on March 20, 2025 and the yield of 9.625% per annum and $167.086 million due on March 20, 2025 and the yield 8.25% per annum.
In addition, eurobonds were issued for $100 million with maturity up to 2024 after restructuring the subordinated loan for the corresponding amount.
Oschadbank was founded in 1991. Its only owner is the state.
Oschadbank ranked second among 84 banks operating in the country on June 1, 2018 in terms of total assets (UAH 236 billion), according to the National Bank of Ukraine.
The National Bank of Ukraine (NBU) expects the country’s Finance Ministry will place $2.5 billion in eurobonds in 2018, $1.5 billion in eurobonds in 2019. “In 2018 and 2019, we expect that eurobonds worth $4 billion will be placed: $2.5 billion this year and $1.5 billion next year,” Deputy NBU Governor Dmytro Solohub said at a briefing in Kyiv on Thursday.
Myronivsky Hliboproduct (MHP) agroholding after a tender offer to buy notes due on April 2, 2020 received applications for the securities worth $416.183 million, the company reported on the London Stock Exchange (LSE) on Monday.
According to the report, currently the company has outstanding 2020 notes in aggregate principal amount of $495.6 million.
MHP said that following the early tender deadline the notes in aggregate principal amount of $409.783 million were tendered. On or before the expiration deadline the notes in aggregate principal amount of $6.4 million were tendered.
On or about 10 April 2018, on the terms and subject to the conditions in the tender offer memorandum, noteholders who validly tendered following the early tender deadline and on or before the expiration deadline will be paid the tender offer consideration of $1,065 per U.S.$1,000 principal amount plus the accrued interest amount.
The aggregate principal amount of Notes outstanding following completion of the tender offer is $79.417 million.
Metinvest mining and metal group has placed eurobonds under the 2012 eurobond refinancing program and pre-export financing facility ((PXF-financing): $825 million bonds due on April 23, 2023 and $525 million bonds due on April 23, 2026. According to information in the Bloomberg system, five-year bonds were placed at 98.986% of their face value. Taking into account the coupon of 7.75%, yield for them is 8% per annum.
The eight year bonds were placed at 98.583% of their face value. Taking into account the coupon of 8.5%, yield for them is 8.75% per annum.
As reported, on March 19 Metinvest offered the holders of eurobonds circulating in the market, the total nominal volume of which is $1.187 billion, to redeem the securities ahead of schedule.
The group at the initial stage of the offer received proposals for the buyback of eurobonds for $1.068 billion. In addition, the holders of eurobonds worth $1.149 billion agreed to amend the terms of their circulation.
The deadline for applications for redemption expires at 16:00 London time on April 19, 2018.
Metinvest also reported on achieving agreement with the creditors, who provided PXF-financing, on the revision of the terms of loans, including their extension.
Synchronously the group announced the issue of new bonds.
