Bank Finance and Credit Repaid USD 23 mln of Foreign Debt
OREANDA-NEWS. July 15, 2010. Bank Finance and Credit repaid USD 23 mln of forein debt within syndicated loan facilities in amount of USD 112.5 mln.
`This repayment is one of the liabilities undertaken by the Bank in May 2010 during coordination and approvement of terms and conditions of restructurization of foreign indebtedness and has been an evidence of the fact that our negotiations enter final straight`, – said Deputy Chairman of the Board of the Bank Sergey Borysov.
`Despite quite complicated and long lasting process of negotiations with the lenders of the Bank we managed to agree upon and approve mutually beneficial terms and conditions of repayment of the debt that were supported by all the lenders` - said Mr. Borysov. `In the nearest three weeks the Bank is planning to accomplish the formalization of restructuring by means of entering into new loan agreement` - said Sergey Borysov.
It is known that within these borrowings the Bank Finance and Credit repaid USD 1.5 mln in September 2009, over USD 5.7 mln in July 2009 and in March 2009 the Bank made partial repayment for the amount of USD 3.5 mln.