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12:33
FINANCE AND CREDIT BANK PAYS $5.703 M ON FOREIGN LOANS IN JULY

Kyiv, August 5 (Interfax-Ukraine) – Kyiv-based Finance and Credit Bank paid $5.703 million on foreign loans in July, the bank's press service reported on Wednesday.

"$5.7 million was paid by Finance and Credit Bank in line with a bank's strategy on the restructuring of foreign debts," reads the bank's press release, citing its deputy board chairman, Serhiy Borysov.

The release says that the bank's talks with its creditors, which are being held jointly with the Morgan Stanlеу financial consultant, were going well.

"We see understanding and readiness for dialogue from all our foreign partners," reads the release.

As reported, the bank asked all holders of its eurobonds to mature in January 2010 worth $100 million to take part in a discussion on the possible restructuring of the bank's eurobond debt.

Finance and Credit was founded in 1990. Among its stockholders as of April 1, 2009 were JSC F&C Realty with a 46.96% stake and Askania Ltd. with a 48.88% stake.

The NBU says that as of April 1, 2009 the bank ranked 14th among the 182 operating banks in Ukraine in terms of total assets (UAH 18.316 billion).

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