OREANDA-NEWS. December 16, 2009. VAB Bank paid the fifth coupon in the amount of USD 6.3 million on the 3-year Eurobonds due in June 2010. The coupon is paid semi-annually at the rate of 10.125% per annum, reported the press-centre of VAB Bank.

The debut Reg S USD125 million Eurobonds issue was lead-managed by Credit Suisse International and Deutsche Bank. The notes have been used solely for financing a loan to VAB Bank.

“Maintenance of excess liquidity has been one of the Bank’s main tasks throughout 2009, which helped to fully and timely honor the Bank’s obligations to the borrowers and depositors. It is worth mentioning that VAB Bank redeemed all domestic bonds after the put option exercised by the bondholders (UAH 147 million of the domestic F-series bonds and UAH 70 million of the G-series bonds), with less than UAH 3 million F-series bonds, maturing in May 2010, outstanding. The coupon payment on Eurobonds is the last payment on the Bank’s international borrowings in 2009.

We do not expect significant changes in economic and financial situation in Ukraine in the forthcoming year, therefore, we will continue focusing on maintaining high liquidity in 2010”, — commented Lukas Tursa, VAB Bank Deputy Chairman.