PrivatBank Completes the Restructuring of its Public Debt Further Bolstering its Capital Base and Liquidity Position

DNIPROPETROVSK, Ukraine, November 13, 2015 /PRNewswire/ --

Having received the overwhelming support of its creditors and the seal of approval from the High Court of England and Wales today, PrivatBank, Ukraine's largest commercial bank, has completed the restructuring of its public debt and extended the maturity dates to February 2021. At a meeting of its creditors in London earlier this week, PrivatBank's Scheme of Arrangement (the implementation tool for the restructuring) obtained votes from 99% of participating creditors.  

The successful restructuring of its public debt will further bolster the Bank's capital base which will ensure that customers of the Bank can continue to have confidence in PrivatBank. This result will be welcomed by all stakeholders given the integral role that PrivatBank plays in the banking system of Ukraine.

The restructuring, which has been conducted with full overview and approval of the National Bank of Ukraine, will:

- result in an increase of the existing capital adequacy ratio of the Bank to above
11%; and
- result in an increase of the liquidity position of the Bank.

The restructuring, which will formally complete next week, will also enhance value for creditors of the Bank, including its bondholders, and as mentioned above, will provide continuing security for the Bank's loyal customer base and deposit holders.

This transaction is unique as PrivatBank is the only Ukrainian bank that has successfully restructured its external indebtedness via a Scheme of Arrangement sanctioned by the English court.

Media Contacts: 
Peter Ogden/Giles Read 
Tel: +44-(0)20-7250-1446 



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