Issuer: Republic of Ukraine
Amount: $450 million
Launched: August 11
Lead manager: Nomura
Investment bankers rejoiced in the middle of August when Ukraine broke the summer lull in the Euromarkets with the launch of its first international bond issue. Ukrainian teachers too: part of the $450 million proceeds was used to pay off teachers’ wage arrears, averting a strike that would have delayed the beginning of the autumn term.
Most features of Ukraine’s path to the Euromarkets have been unusual.
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