OREANDA-NEWS. On 4 September 2009 was announced, that Donetsk Town Council confirmed that Joint-Stock Commercial Industrial & Investment bank became the winner of tender for bonds issue in 2009.

Total nominal value of the bonds is UAH 60.0 million. Period of circulation is 5 years, bond-equivalent yield - 25% p.a. for the whole period.

On August 5, 2009 the Chairman of Prominvestbank Board Mr.Victor Bashkirov and the Head of Donetsk Town Council Mr. Olexander Lukiyanchenko signed the Letter of Intent to conclude an Agreement about bonds issue and servicing procedure before August 14, 2009.

After the signing ceremony the executives of the town and the senior managers of the bank visited the incompleted houses that were financed by the bank. Because of the crisis the construction of these houses was stopped and now there are some more development structures included into the programme of Europe Football Championship 2012 that are reviewed by Prominvestbank as possible projects for financing by the bank. Among such projects there was presented the reconstruction of Druzhba Hotel and aqua park construction.

Olexander Lukiyanchenko told that the signing of Letter of Intent means that the town will get the UAH 60.0 million of financing that was not received from the Government. The funding first of all will be invested into the development of public transport and construction of houses for people who have priority right and for developing of social programs.