Bank Finance and Credit Transferred Funds For Eurobond Coupon Payment

press-release

      23 June 2009 Bank Finance and Credit transferred funds in timely manner for Eurobond coupon payment. According to the Deputy Chairman of the Board, Bank Finance and Credit, Sergiy Borysov - `The Bank fully performed its next payment of Eurobond coupon, under the agreement the Bank transferred $5.187 million`.

      As it was stated earlier, Bank Finance and Credit had proposed to the holders of its Eurobonds maturing in January 2010 for the amount of $100 million to go for Eurobond restructuring for three years with the rate of return similar to the existing one, and engaged Morgan Stanley as an advisor in respect of changes in terms and conditions for Eurobonds. Trustee is represented by Deutsche Trustee Company Limited.

      Mr. Borysov stated that `discussions about terms and conditions of restructuring are held in the context of the general structure of external debt of the Bank, such as syndicated loan facilities, Eurobond issue and trade finance`.

      We`d like to remind that the first Eurobonds for $100 million with the yield of 10.375% pa  were allocated in November 2006 for the circulation term of 3 years. Lead managers of the transaction were Deutsche Bank, UBS and VTB Europe.

Press-secretary
Bank «Finance and Credit»
Nataliya Napadovskaya
(044) 499-26-51