Companies@UA: База компаний Украины

Kyiv, July 28 (Interfax-Ukraine) – Kyiv-based CJSC Alfa-Bank's three eurobond issues worth $1.045 billion, which mature in 2009, 2010 and 2011, will be swapped for new U.S. dollar denominated eurobonds worth $840.633 million falling due in 2012.

According to a report issued on Monday by Ukraine Issuance plc, through which the bank is issuing new securities, the holders of eurobonds of the three issues approved the decision in the second half of June.

In particular, CJSC Alfa-Bank's $344 million issue of eurobonds, which matures in December 2009 and has a 9.75% annual interest rate, will be swapped for a new $267.952 million issue of eurobonds; the bank's $450 million eurobonds, which mature in July 2010 and have a 9.25% annual interest rate, will be swapped for a new $387.277 million issue; and the bank's $250 million eurobonds, which mature in August 2011 and have a 12% annual interest rate, will be swapped for a new $185.404 million issue.

The new eurobonds will be issued through Ukraine Issuance plc and mature on July 30, 2012. They will be repaid in equal parts, starting from the second year of circulation, and the coupon on them will be paid on a quarterly basis. It is expected that they will be in circulation on the Irish Stock Exchange.