KIEV, June 12 – State-run Oschadbank has agreed with the members of the ad hoc creditors' committee, who currently hold approximately 54.3%, or $1.3 billion, of the total outstanding principal amount of the debt instruments, on a maturity extension of seven years.

The bank announced on Friday that the agreement concerns the following debt instruments: $700 million 8.25% loan participation notes (LPN) due in 2016 (ISIN: XS0594294695) issued by SSB No.1 Plc; $500 million 8.875% LPNs due in 2018 (ISIN: XS0906434872) issued by SSB No.1 Plc; and $100 million subordinated loan due in 2017 with RBS as lender.