Holders of over 20% of PrivatBank eurobonds unite in committee
The holders of more than 20% of eurobonds in nationalized PrivatBank (Dnipro) have united in a special committee for the common protection of their rights and interests after the exchange of their securities for the bank's additionally issued shares, the head of the analytical department of Concorde Capital investment company, Oleksandr Paraschiy, has told Interfax-Ukraine.
"A group of PrivatBank eurobond holders has been formed. The committee consists of five funds, including British, American and Swiss, holding different issues of securities for a total of more than $120 million. In addition, other funds expressed their desire to join the committee," he said.
As reported, as part of the nationalization of PrivatBank, its obligations to a Special Purpose Vehicle (SPV, Britain), the issuer of eurobonds, was subject to bail-in procedures and were exchanged for the bank's additionally issued shares.
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