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PrivatBank repays $8.2m interest income on $200m eurobonds

PrivatBank repays $8.2m interest income on $200m eurobondsPrivatBank (Dnipro), the largest Ukrainian bank, on September 22 repaid $8.2 million of interest income on eurobonds worth $200 million, according to a press release from the bank.

As reported, the holders of PrivatBank eurobonds worth $200 million at a meeting in September 2015, a few days before the maturity of the securities, supported the extension of their circulation until January 2018.

The new eurobond repayment schedule provides for the payment of 20% of the principal on August 23, 2016 and February 23, 2017 and 15% once every six months thereafter until January 23, 2018.

The terms of restructuring also foresee the increase of the interest rate on eurobonds to 10.25% from 9.375% per annum.

PrivatBank was founded in 1992. As of January 1, 2016 its largest shareholders were Hennadiy Boholiubov (direct participation is 33.2525%, indirect - 8.3346%) and Ihor Kolomoisky (direct participation - 41.6572%, indirect - 8.3346%).
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