The bank’s eurobond trustee filed claims regarding loan agreement to the court.
A new PrivatBank eurobond trustee Madison Pacific Trust Limited filed claims to the London Court of Arbitration, the securities issuer UK SPV Credit Finance plc reported on the website of London Stock Exchange, Correspondent.net reports.
“On November 8, 2017, the new trust issuer filed claims to the London Court of International Arbitration (LCIA), and these notifications were sent to PrivatBank. These claims are related to loan agreements between PrivatBank and issuer”, according to the message.
The company specified that it refers to three issues of eurobonds: for USD 175 million at 10.875% with repayment on February 28, 2018, for USD 200 million at 10.25% with repayment on 23 January 2018, out of which USD 40 million were repaid in August 2016, as well as for 220 million dollars at 11% (subordinated debt bonds) with repayment in 2021.
It is noted that the trustee will inform eurobond holders about further development of the process.
It should be reminded that on November 2, Madison Pacific Trust Limited notified PrivatBank of the collection of eurobond arrears before maturity.