PrivatBank's liabilities to issue of bank eurobonds exchanged to bank shares
Liabilities of PrivatBank (Dnipro) to a Special Purpose Vehicle (SPV, Britain), the issuer of the bank's Loan Participation Notes worth $595 million, were included in the bail-in procedure during the bank's nationalization and they were exchanged to the additionally issued shares of the bank when temporary administration worked at the bank, the National Bank of Ukraine (NBU) has said.
"Under Article 41.1 of the law on the individuals deposit guarantee system liabilities of PrivatBank to SPV were exchanged to the additionally issued shares of the bank in the period when temporary administration worked at the bank," the central bank said on its website.
No payments would be settled under the bail-in procedure.
The NBU said that this concerns $175 million Loan Participation Notes due on February 2, 2018 at 10.875%, $200 million Loan Participation Notes due on January 23, 2018 at 10.25% and $220 million Loan Participation Notes due in 2021 at 11% per annum.
Advertising
Advertising
MORE ABOUT
Four MPC members expect reduction of key policy rate to 11.5-12% by late 2024, remaining 7 expect fall to 13% – NBU
13:58, 06.05.2024
NBU develops alternative scenario in case of higher security risks with GDP growth in 2025 by 3.3%
11:03, 06.05.2024
NBU lifts restrictions on import of works, services; introduces other currency concessions
21:01, 03.05.2024
NBU requires Getin Holding to sell Idea Bank within six months
10:09, 03.05.2024
NBU completing development of bill on war risk insurance system in Ukraine
16:21, 30.04.2024
LATEST
Naftogaz Group receives UAH 23.1 bln net profit in 2023 against UAH 79.1 bln loss in 2022
12:52, 07.05.2024
After opening of sea exports, Metinvest increases workload of factories, directs efforts to retain teams – HR Director
20:17, 06.05.2024
Kamet Steel plant carrying out major overhaul of cable rack at coke chemical division for uninterrupted power supply
19:52, 06.05.2024
Business expectations in Ukrainian construction market in Q2 decrease by 1.1 pp – statistics
19:16, 06.05.2024
New EU sanctions will apply to supplies of manganese ore and aluminum oxide to Russia – Latvian authorities