Kyiv-based Kreditprombank has agreed with foreign investors on the restructuring of a $400 million loan.
"As of February 1, 2010, after receiving the support of over 99% of the international creditors of Kreditprombank Ltd., a framework agreement on debt restructuring has taken effect. The agreement foresees the prolongation of some $400 million of the bank's debt to international creditors," reads a bank report.
The bank said that after the completion of the deal on the restructuring, over $100 million of the bank's foreign debt will be converted into capital.
