DTEK Sells USD 600 mln Eurobonds
OREANDA-NEWS. DTEK, the biggest energy company in Ukraine, sold USD 600m in 2018 Eurobonds with 7.875% coupon.
DTEK's Chief Financial Officer Vsevolod Starukhin said: "Despite the current volatility in international capital markets, DTEK has maintained its ability to raise long-term funding on favourable conditions. It indicates the confidence of creditors and investors that we are a reliable business and consistently deliver on our development plans. A number of parameters make the deal unmatched in Ukraine's corporate sector so far. We will spend USD 600m raised with 7.875% coupon and five-year maturity for a partial buyback of USD 321m from the previous issue (USD 500m with 9.50% coupon and maturity period until 2015) and corporate goals including financing of working capital and roll out of our investment programme."