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Nadra Bank warns lenders of prolonged recapitalization

October 19, 2010 | Kommersant-Ukraine (translated by Cbonds)

Nadra Bank’s interim administrator was forced to ask the bank’s lenders to reconsider restructuring terms for Eurobonds due to prolonged recapitalization. If the lenders consent to put off recapitalization to the end of Q4 by October 22, they will get a 0.2% premium of the bond par amount. On October 11 the bank approached bondholders about amending the restructuring agreement. The bank didn’t manage to comply with one restructuring condition, according to Renaissance Capital Ukraine.

Nadra Bank now promises to pass the resolution on recapitalization by December 31. Bondholders consenting to the new terms by October 22 are offered a 0.2% premium ($150,000).

Issue: Nadra Bank, 8.0% 31jul2018, USD

StatusDefaultCountry of riskMaturity (option)AmountIssue ratings (M/S&P/F)
redemption defaultYesUkraine07/31/201874,574,500 USDWithdrawn/-/Withdrawn

Company: Nadra Bank

Full company namePJSC "Bank "Nadra"
Country of riskUkraine
IndustryBanks

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