The bank also proposed to increase the coupon rate from the current 8.375% to 9.625%, effective 27 April 2015.

Bondholders agree to extend the maturity of EXIMUK15 by
three months


After having failed to reach a quorum two weeks ago, Ukreximbank
bondholders, after approving a new level of quorum last week, reconvened
yesterday and passed the resolution to extend its US$750m Eurobond by
three months.
The bank announced that it will seek a seven-year extension for this issue,
with half of the principal (US$375m) to be due in three years on 27 April 2019
and the remainder to be paid in six equal installments beginning on 27
October 2019. The bank also proposed to increase the coupon rate from the
current 8.375% to 9.625%, effective 27 April 2015.
This proposal could appeal to investors, particularly as haircuts to sovereign
debt have been proposed to occur later this year. We expect no further
material amendments in regard to Ukrexim’15 as the bank aims to negotiate
all of its Eurobonds (namely, Ukrexim’16 and Ukrexim’18) over the next three
months to meet the IMF EFF Target 1.
Mykhaylo Demkiv, Kyiv, +38044 2200120 ext.723