You're reading: EU borrows 500 million euros on market for Ukraine

The European Union, to finance the first tranche of its macro-financial assistance to Ukraine, on June 10 placed a tranche of ten-year bonds worth 500 million euros on the market, the press service of the European Commission said.

 According to the press service, the funds will be transferred to Kyiv on June 17.

The European Commission clarified that the rate of bond placement was 1.5 percent per annum.

The lead managers are Deutsche Bank, J.P. Morgan, Landesbank Baden-Wurttemberg (LBBW) and Societe Generale CIB. The demand for the equities exceeded 1.25 million euros, 30 percent of the bonds were placed in Asia, 60 percent in the eurozone and 10 percent in other European countries.

Among European countries, most securities were bought by investors from Germany (44 percent), the Netherlands (8 percent), France (6 percent), Switzerland (6 percent), Britain (4 percent), and Italy (2 percent).

As reported, the EU on May 20 transferred first 100 million euros of macro-financial assistance amounting to 1.61 billion euros to Kyiv.