KIEV, May 24 – Kiev city plans to issue eurobonds worth $300 million in June 2011 and most of the funds raised will be used to pay back 2004 eurobonds worth $200 million, Head of Kiev city administration Oleksandr Popov has told Interfax-Ukraine.

"We're carrying out an active campaign to resolve the problem with benefits for the city. We want to refinance the debt [$200 million] through the issue of eurobonds, the cost of which would less than before. In the next calendar month the issue will be settled – new eurobonds worth $300 million will be issued," he said.