Ukravtodor, in its debut placement on the Eurobond market, placed $700 million of 7-year bonds at 6.25%, well below the initial return target of 6.625%

, Interfax-Ukraine reported yesterday. Earlier this year, the Cabinet of Ministers approved sovereign bond guarantees up to $740 million for the state highway agency. The organizers of the issue — J.P. Morgan, Dragon Capital, and Ukreximbank – started calling investors on Tuesday.