You're reading: Alfa-Bank Ukraine intends to place M-P series bonds for 3 billion hryvnias

Alfa-Bank (Kyiv, part of Alfa-Bank Group) intends to place M-P series bonds with a total nominal value of 3 billion hryvnias, the issuer reported in the information disclosure system of the National Commission on Securities and the Stock Market. 

 The bank board made the corresponding decision on Aug. 27, 2014.

Securities with a nominal value of UAH 1,000 will be issued in the following amount: M and N series bonds – 500,000 each, O and P series bonds – one million units each. They are to be placed on Perspectiva Stock Exchange (Dnipropetrovsk).

The issuer intends to use the funds raised to increase the loan portfolio (90% of funding) and the investment portfolio (10% of funding).

The period of bonds placement, as well as other conditions of their issue have not been specified.

As reported, the bank board on May 13, 2013 decided to place five-year K and L series bonds for a total of  600 million hryvnias.

The securities were issued in a book-entry form in the amount of 300,000 in each series.

K series bonds were placed in Sept. 2013, while the bank failed to place L series bonds.