BAVL redeems first USD 83.5 mln loan tranche
24 July 2009
Raiffeisen Bank Aval (BAVL) said yesterday in a press release that it fully repaid the first tranche of a USD 200 mln loan facility received in July 2008. The first tranche, A, totaling USD 83.5 mln matured and was redeemed yesterday; the second, B, tranche equals USD 116.5 mln and is due in July 2010. After this tranche’s repayment, Aval said that it has no further redemptions on wholesale funding deals until yearend. Andrii Parkhomenko: We expect that Raiffeisen Bank Aval will not face problems repaying its obligations in the future, after Raiffeisen International announced this week in a release that it planned to increase its core capital by EUR 1.25 bln in order to strengthen the capital base of Raiffeisen International and its network banks.
