18 March 2009, Wednesday, 12:26

“URSA Bank” intends to redeem Eurobonds for the sum of 100 million EUR till March 26

author: Elvira Latypova

“URSA Bank” announced the beginning of the tender for its own Eurobonds retirement. The issue for the sum of 400 million euro under 7% with the bond issue maturity in May 2010 and the issue for the sum of 300 million euro under 8,3% with the bond issue maturity in November 2011 are taking part in the retirement program.

The bonds with the nominal value 1000 euro with the bond issue maturity in 2010 will be redeemed at the price no more than 900 euro for one bond and the bonds with issue maturity in 2011 – no more than 780 euro for one bond. The retirement volume will make up no more than 60 million euro for every issue but 100 million euro in a sum at the most.

The period of retirement offer validity will expire on March 23, 2009, at 16 o’clock (London time), if no additional decision about program prolongation is reached. The final retirement volume and the price for every bond issue will be announced the next day at 10 o’clock (London time). The retirement will be admittedly completed on March 26, 2009. The Eurobonds retirement program was initiated by “URSA Bank” at the end of 2008. On March 1, 2009, the overall volume of the bonds, redeemed by “URSA Bank” has made up more than 274 million euro at face-value.