Examples of Eurobond Offerings

The following are examples of eurobond offerings as published by various financial sources.

(1) World Bank To Issue Bonds in Pounds Sterling

June 5, 1987

The World Bank announced yesterday that it is offering the largest issue ever of fixed-rate Eurobonds denominated in sterling.

The World Bank announced yesterdaythat it is offering the largest issue ever of fixed-rate Eurobonds denominated in sterling.

The $:200 million issue, worth about $329.6 million, of 9 1/4 percent bonds due in 2007 was offered at 98 3/4, to yield 9.18 percent on a semiannual-equivalent basis, through underwriters led by Baring Brothers & Company Ltd. It was the first long-term sterling-denominated Eurobond issue by the World Bank.

(2) Chrysler Enters the Euro-Yen Market

August 3, 1988

The Chrysler Financial Corporation, one of the nation's four largest non-bank finance companies, yesterday announced a Euro-commercial paper program of 20 billion yen (about $151 million) through Yamaichi International (Europe) Ltd. It is the first such offering by an American non-bank finance company.

The Chrysler Financial Corporation, one of the nation's four largest non-bank finance companies, yesterday announced a Euro-commercial paper program of 20 billion yen (about $151 million) through Yamaichi International (Europe) Ltd. It is the first such offering by an American non-bank finance company.

The notes, which bear no interest, will be offered at a discount with maturities ranging from 7 days to 365 days and in denominations of at least 100 million yen (about $757,000).

(3) Finning Announces 200 Million Sterling Eurobond Debt Offering

May 2003

Finning International Inc. a Canadian company, announced today that it is issuing a 10-year 200 million sterling Eurobond.

The Eurobond will be listed on the Luxembourg Stock Exchange, bear coupon interest at 5.625% per annum, payable annually, and will be priced at 99.043% of its principal amount to yield 5.753% per annum. The issue will be unsecured and will mature on May 30, 2013.

The Eurobond will be rated BBB+ by Standard and Poor's. Proceeds from the offering will be used to finance the acquisition of the business of Lex Harvey Limited, and its subsidiary Lex Birchwood Limited, and also to repay existing bank indebtedness. The syndicate includes Citigroup as sole bookrunner, HSBC as co-lead manager, RBC Capital Markets as senior co-manager, and Scotia

Capital and TD Securities as co-managers.

Finning International Inc. sells, rents, finances and provides customer support services for Caterpillar equipment and engines, and complementary equipment, in Western Canada, the U.K., and South America (Argentina, Bolivia, Chile and Uruguay). The corporation's Head Office is located in Vancouver, B.C., Canada.

Finning International Inc. is a widely held, publicly traded corporation, listed on the Toronto Stock Exchange.

(4) Kenya Plans to Enter Eurobond Market

April 2, 2007

Kenya's government is to underscore its growing -economic confidence as it prepares for an election by issuing a sovereign bond in the international markets for the first time.

It is seeking to capitalise on burgeoning economic growth - for which the four-year old government controversially claims credit - and to establish a benchmark to help Kenyan companies raise funds abroad in future.

Kenya is joining a queue of African countries - led by Ghana, Nigeria and Zambia - that are exploring ways to tap international debt markets. The prospect of a presidential election, due by the end of the year in Kenya, is also likely to have focused attention on the potential symbolic benefits of a bond issue.

Amos Kimunya, the country's finance minister, told the Financial Times it would launch a dollar-denominated bond valued at up to $73m in the next few months.

The funds raised by the bond issue - which is dwarfed by Ghana's planned $500m-$750m offering - will not be included in Kenya's annual budget. Instead they are likely to be devoted to long-term infrastructure investment projects.

Mr Kimunya said Standard & Poor's, the credit rating agency, had given the planned issue a B+ rating. Bankers from Citigroup, JPMorgan and other institutions had flown to Nairobi to study and offer comments on the government's plans.

Asked about the bond's maturity, Mr Kimunya said: "We would love 15 years. For me, the longer the better." But its duration and coupon will depend on the outcome of further consultation with bankers, brokers and potential investors.

(5) LUKoil plans $500 Million Eurobond Issue

April 2, 2007

LUKoil announced plans for a $500 million Eurobond issue in the first half of 2007, the president of Russia's largest crude producer said Monday.

It could become the company's first issue for the past four years, and Deutsche Bank and Credit Suisse are said to have been authorized to arrange the facility.

"We will issue Eurobonds this year, possibly in the first half," Vagit Alekperov said.

LUKoil has repeatedly announced its plans for Eurobonds since early 2004, but the issue has always seen delays.

Last time the company issued Eurobonds in 2002, worth $55 million with maturity in November 2007. The previous two placements, totaling $350 million and $230 million respectively, were carried out in 1997 and repaid in 2003 and 2002 respectively.