Nadra restructures ~13% of its foreign debt

Nadra Bank (NADR) has restructured about USD 116 mln of its total USD 900 mln in foreign debt, Acting Head of the National Bank of Ukraine Anatoliy Shapovalov said on Friday, according to Interfax. Restructuring of this first portion of the bank’s debt will be completed on November 15, Shapovalov said. The restructuring of Nadra’s foreign debt is one of the major obstacles preventing the government from offering it recapitalization support. As of July 1, Nadra Bank was Ukraine’s #11 largest lender by assets, based on NBU statistics.