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Ukraine issues 1 bln USD Eurobonds under U.S. guarantees

Xinhua, September 23, 2016 Adjust font size:

Ukraine has issued Eurobonds worth 1 billion U.S. dollars guaranteed by the United States, Ukrainian Finance Minister Olexandr Danyliuk said late Thursday.

"The bonds were placed at 1.471 percent interest rate -- the lowest rate in Ukraine's history," Danyliuk wrote on Facebook.

The Ukrainian government said Friday on its website that the funds raised from the placement of the bonds will be used for implementation of social programs in the East European country, particularly for financing pensions and welfare payments.

In June, the U.S. government pledged to provide Kiev with 1 billion dollars of fresh credit guarantee to protect vulnerable groups in Ukraine against the impacts of the ongoing economic turbulence. The loan has a repayment period of five years.

This is the third bond issuance of Ukraine under the U.S. guarantees. Since 2014, Kiev has already received 2 billion dollars from Washington under two separate loan guarantee agreements. Endi