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Weekly Lists
July 19, 2019 www.intellinews.com I Page 26
bne:Credit Ukraine raises record-
high $1.3bn via local bond placements
Ukraine’s Finance Ministry received record-high receipts of UAH33.3bn ($1.27bn) from placing UAH and US dollar-denominated bonds on July 16.
Kyiv raised UAH7.4bn by placing four types of UAH-denominated bonds with maturities ranging from three months to two years, and $1bn from placing one- and two-year US dollar-denominated bonds.
The highest auction receipts, $632mn, came from the sale of one- year US dollar-denominated bonds to 62 out of 67 bidders. The interest rate for one-year US dollar-denominated bonds went down to 6.5% from 7.0% three weeks ago. The rest of the US dollar auction receipts came from the sale of two-year bonds
to 53 out of 59 bidders with a weighed average interest rate of 7% (vs. 7.5% three weeks ago).
Attempts to clean up Turkey’s bad debt in the wake of last year’s currency crisis have stalled after bankers rejected or put on hold initial plans, according to people familiar with the matter cited by Reuters on July 18.
The news agency conducted interviews with more than a dozen bankers, company executives and advisers. It reported interviewees as relating how there has been little progress over the past three months with plans to help lenders to Turkey’s construction, real estate and energy companies that can no longer afford roughly $20bn of debt.
“Everything is just at a standstill,” one banker involved in discus- sions between lenders, companies and government officials was cited as saying.
Swiss grain and fertiliser distributor Ameropa has signed a €324mn revolving credit facility with a syndicate of four Romanian banks on July 16, including Banca Comerciala Romana (BCR) and Raiffeisen Bank as principal initiators.
Two other Romanian banks, are ING and UniCredit, acted as man- dated lead arrangers and lenders. BCR also acted as facility and security agent and documentation agent.
The facility may be extended up to three years and will be used by Romania’s Azomures, Ameropa Grains and Chimpex to consolidate and increase their financial debt book by refinancing the existing bilateral facilities and financing new working capital needs.
Attempts to clean up Turkey’s bad debt reportedly stall
Swiss Ameropa signs €324mn loan deal with four Romanian banks