FUIB Eurobond holders agree to restructuring terms

First Ukrainian International Bank said yesterday in a release that holders of its USD 275 mln due in February 2010 agreed to restructuring. Specifically, the maturity was extended from February 16, 2010 to December 31, 2014, the interest rate was raised from 9.75% to 11%, and the frequency of coupon payments was increased from semi-annually to quarterly. The bank agreed to repay about USD 17 mln of the principal in February. FUIB said that 86% of Eurobond holders were present at a meeting in London yesterday and that 92% of them voted in favor of the restructuring proposal. FUIB was Ukraine’s #14 largest bank by assets as of October 1, according to the National Bank of Ukraine.