KIEV, Aug. 4 – Oschadbank has agreed to re-profile its 2016 and 2018 $1.2 billion loan participation notes, giving the state bank an additional seven years to pay off the principal and giving noteholders a coupon rate increase, the bank said in a statement after a noteholders vote on August 3.

"Holders of the U.S.$700,000,000 8.25% Loan Participation Notes due 2016 issued by SSB No.1 PLC and the U.S.$500,000,000 8.875% Loan Participation Notes due 2018 issued by the same issuer approved the relevant Extraordinary Resolutions set out in the consent solicitation memorandum dated July 6, 2015 at the noteholders' meetings that took place on August 3, 2015, by majorities of 99.92% and 99.69% of the votes cast (which excludes, in the case of the 2018 Notes, holders who abstained from voting), with quorums of 93.65% and 92.61%, respectively," the bank said in a statement.