November 08, 2010 |
|The holders of Bank Nadra's 2017 eurobonds worth $74.574 million have agreed to postpone the term of the bank's additional capitalization until the end of 2010 and achieve obligatory norms by March 31, 2011, according to a statement by UBS AG on the stock exchange, the text of which has been sent to Interfax-Ukraine.|
The proposal was approved at an extraordinary meeting of Bank Nadra's shareholders on October 26, 2010.
As reported, the Ukrainian cabinet did not make a decision on the recapitalization of the bank by September 30, 2010, which was one of the conditions for restructuring the bank's five-year eurobonds worth $175 million, the maturity term for which is in 2010. The bank had to ask creditors to revise the conditions of the default and postpone the recapitalization terms.
In addition, the bank proposed to bondholders to postpone the terms for bringing the bank's financial indicators in line with the requirements of the National Bank of Ukraine from December 31, 2010 until March 31, 2011.
|Status||Default||Country of risk||Maturity (option)||Amount||Issue ratings (M/S&P/F)|
Company: Nadra Bank
|Full company name||PJSC "Bank "Nadra"|
|Country of risk||Ukraine|