Ukrainian president Viktor Yushchenko’s announcement on September 8 that he had sacked his entire cabinet, including prime minister Yulia Tymoshenko, could hardly have come at a worse time for the investment banks appointed to arrange the sovereign’s latest Eurobond issue.
Citigroup, Deutsche Bank and UBS have been mandated as joint bookrunners on its planned €600 million denominated 10-year issue, and had planned to hold a roadshow during the week of September 12. This was swiftly put on hold.
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