Oschadbank (December 9, 2014)
Currently Oschadbank has two Eurobond issues outstanding, maturing in 2016 and 2018. They offer yields (YTMs of 44% and 26%, respectively) that are at a significant spread above those of the sovereign Ukrainian Eurobonds of similar duration. However, the bank still has one of the highest capital adequacy ratios (21.5%) in the country, and its net interest margin stood at 11% as of 9M2014. We thus consider the probability of Oschadbank defaulting on its external obligations to be low.