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VAB Вank finishes debt restructuring on Eurobonds

March 30, 2010 | Cbonds

The National Bank of Ukraine has registered amendments to the loan agreement on a $125m 10.125% Eurobond of VAB Вank due June 2010. The transaction done in the framework of debt restructuring was approved by the overall majority of noteholders at a noteholder meeting held on March 22.

The issuer offered noteholders to extend the tenor of the issue by 4 years and hike the coupon rate from 10.125% to 10.5% changing coupon frequency to quarterly from semi-annual. Investors that consented to the restructuring offer will receive 10% of the principal on the maturity date (June 14, 2010).

Issue: VAB Bank, 10.125% 14jun2019, USD

StatusDefaultCountry of riskMaturity (option)AmountIssue ratings (M/S&P/F)
outstandingYesUkraine06/14/201916,875,000 USDWithdrawn/-/Withdrawn

Company: VAB Bank

Full company namePJSC VAB Bank
Country of riskUkraine
IndustryBanks

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