PrivatBank extends 2015 eurobonds until Jan 2018
The holders of PrivatBank eurobonds (Dnipropetrovsk) worth $200 million, maturing on September 23, 2015 have supported the extension of the maturity date until January 2018, the bank has reported.
According to the report, the interest rate on the bonds will be increased to 10.25% from 9.375% per annum.
The bank in its statement on the exchange said that the holders of 85.17% of the bonds took part in the meeting, and 96.94% supported the decision.
"As soon as the deal was announced, the transaction was supported by a group of investors led by a U.S. fund based in Washington. This fact was noted in a number of foreign media, which positively evaluated the reaction of investors to the deal," PrivatBank said.
The report states that the bondholders supported the proposal dated August 21 this year. According to it, the maturity term of 2015 eurobonds will be postponed until January 15, 2016, but if the restructuring of another issue of PrivatBank eurobonds worth $150 million maturing on February 9, 2016 until January 5 next year is successful, the final maturity of 2015 eurobonds will be extended again - until January 23, 2018.
