State-controlled PrivatBank (Kyiv) is calling a meeting of holders of eurobonds worth $175 million with maturity on February 28, 2018 and $200 million with maturity on January 23, 2018 for June 5, UK SPV Credit Finance plc (UK), the issuer of the securities, reported on the London Stock Exchange (LSE).

The agenda of the meeting includes the issue of withdrawing the powers of the trustee, namely Deutsche Trustee Company Limited, appointing Madison Pacific Trust Limited a new trustee, and other procedural matters.

As reported, under the nationalization of PrivatBank its obligations to the specially created British company (SPV), the issuer of Eurobonds, were subject to a bail-in procedure and were exchanged for the additionally issued shares of the bank.

Then the Individuals' Deposit Guarantee Fund, which introduced temporary administration in the financial institution, sold all its shares to the state for UAH 1. The matter concerns three issues of eurobonds: those worth $175 million at a rate of 10.875% repayable on February 28, 2018, $200 million at a 10.25% repayable on January 23, 2018, of which $40 million was repaid in August 2016, and $220 million at a rate of 11% with maturity in 2021.