NEWS (May 11, 2010)

Andriy Kravets & Partners advised VAB Bank on Eurobond Restructuring

Andriy Kravets & Partners has acted as Ukrainian legal counsel to VAB Bank, a member of the VAB Group, in connection with its successful USD 125 million Eurobonds restructuring aimed at maintaining high liquidity and improving the structure of the bank’s liabilities in terms of their maturity.

The transaction resulted in extension of the maturity period of the bonds falling due in June 2010 by 4 years, an increase in the coupon rate from 10.125% to 10.5% per annum, and switch from semi-annual to quarterly coupon payment.

Attorneys Juliya Samoylova and Dariya Volkova handled the project under the supervision of partner Andriy Kravets.

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