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PrivatBank appeals to investors for eurobond maturity extension
Journal Staff Report

KIEV, Aug. 7 - PrivatBank (Dnipropetrovsk) has appealed to its investors with another proposal on restructuring 2015 eurobonds worth $200 million, according to a report on the bank's website.

According to the report, if the bond holders at a meeting on August 13 approve postponing the repayment of eurobonds worth $200 million from September 23 to December 1, 2015, the creditors will be offered the following terms of debt restructuring: 30% ($60 million) of the principal amount of the bonds will be paid on September 23, 2017, 17.5% ($35 million) – then on October 23, 2017, November 23, 2017, December 23, 2017, and January 23, 2018.

In addition, PrivatBank reported an increase in the interest rate on the bonds to 10.25% from 10% in case of restructuring.




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