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13:52
UKREXIMBANK TO PAY EUROBONDS WORTH $250 M ON TIME

Kyiv, August 6 (Interfax-Ukraine) - Ukreximbank (Kyiv) is not considering the possibility of restructuring its debt on five-year eurobonds worth $250 million set to mature on September 23, 2009, an informed source in the government has told Interfax-Ukraine.

"Ukreximbank in full and on time will fulfill its obligations on its eurobonds. Restructuring is not being considered in this case," the agency's source said.

According to the source, the fulfillment by the state bank of its foreign obligations should positively influence the market of Ukrainian sovereign and quasi-sovereign debt.

Commenting the situation around Naftogaz, the source said this case is a special one - the government and the company hope the creditors understand that the proposal on restructuring that is likely to be made is being forced on the state in the current conditions.

Ukreximbank was founded in 1992. All of its stocks belong to the state.

As of July 1, 2009, the bank ranked third in terms of overall assets estimated at UAH 56.73 billion among 184 operating banks, according to the National Bank of Ukraine.

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