Gennady Kernes: The issue of the bonds allows Kharkiv to expand a circle of investors

17 january 2012 16:03

“The issue of the bonds allows Kharkiv to expand a circle of investors”, the mayor of Kharkiv Gennady Kernes admitted.

Thus he commented floatation of the bonds of a municipal loan to “Business” news-paper.
“We are satisfied with the bonds floating because all the emission have been floated and the issue profitability have not outstripped the planned one. Even the fact that floatation period coincided the events like decreasing of Ukraine sovereign rating prognoses by the international rating agency “Moody’s Investors Service”, violent increasing of deposit rates by many banks have not interrupted the city to involve the investments”, - the mayor of the city admitted.
He noticed that the bonds as a quick financial instrument allow the city to involve means on more profitable conditions than a bank credit.
“Besides that, the bonds issue allows to expand a circle of investors. In our case the securities were acquired not the banks only but commercial enterprises, investment funds, non-state pension fund, physical persons”, - Gennady Kernes added.

Tags: municipal loan, bonds floatation

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