New Issue: Ukraine's Oschadbank sells $500 million 8 7/8% notes due 2018 at mid-swaps plus 785 bps

By Christine Van Dusen

Atlanta, March 14 - JSC State Savings Bank of Ukraine (Oschadbank) priced $500 million five-year notes (B3//B) at par to yield 8 7/8%, or mid-swaps plus 785 basis points, a market source said.

The notes priced in line with talk, set in the high-8% area.

Credit Suisse, Deutsche Bank and JPMorgan were the bookrunners for the Regulation S deal.

Oschadbank is based in Kiev, Ukraine.

Issuer:	JSC State Savings Bank of Ukraine (Oschadbank)
Amount:	$500 million
Maturity:	March 20, 2018
Description:	Senior notes
Bookrunners:	Credit Suisse, Deutsche Bank, JPMorgan
Coupon:	8 7/8%
Price:	Par
Yield:	8 7/8%
Spread:	Mid-swaps plus 785 bps
Trade date:	March 13
Settlement date:	March 20
Ratings:	Moody's: B3
	Fitch: B
Distribution:	Regulation S
Price talk:	High-8% area

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