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Debt

There is information below on outstanding indebtedness of FUIB.

Credit history An overview of historic foreign currency debt portfolio of the bank is presented below.

Debt There is information below on outstanding indebtedness of FUIB.

Foreign currency debt

An overview of historic foreign currency debt portfolio of the bank is presented below.

Eurobonds

ISIN Issue date  Currency Outstanding Amount Coupon Maturity Format
XS0287015787 14.02.2007 USD 68,369,688.99 11% 31.12.2018 RegS

Notes:

In June 2017 the issuer completed a tender offer to tender the notes for purchase for cash pursuant to a modified Dutch auction procedure. The accepted aggregate principal amount of the notes is USD 15,981,466.51 at the purchase price of 103.0%.

In December 2014 FUIB concluded a consent solicitation in relation to its outstanding loan participation notes. The purpose of the solicitation was to request noteholders’ approval for amendments to the terms and conditions of the notes, the loan agreement and other documentation constituting the notes. According to the extraordinary resolution of the noteholders the following changes to the terms and conditions of the notes came into effect (i) extension of the final maturity date from 31st of December 2014 to 31st of December 2018, (ii) the substitution of Green Finance Plc in place of the issuer as the issuer of the notes, lender under the loan agreement and obligor under the trust deed and the agency agreement, (iii) a partial redemption date on 31st of December 2014, (iv) an amortised redemption consisting of a first instalment of USD 10,000,000 due on 31st of December 2015 and 10 equal quarterly instalments, beginning on 30th of September 2016 and ending on 31st of December 2018. On 31st of December 2014 a redemption of a partial nominal amount of the notes took place in favour of noteholders who supported proposed terms and conditions. The total principal amount of the notes redeemed and cancelled amounted to USD 44,928,000.

In November 2010 FUIB concluded a consent solicitation process to request noteholders’ approval for certain amendments to the terms and conditions, the loan agreement and the trust deed. In particular it was requested to provide consent to the anticipated corporate reorganisation of FUIB and PJSC Dongorbank by way of merger or accession and a waiver of FUIB’s obligation to procure an injection of additional USD 50,000,000 capital by the end of 2010 due to a high current level of FUIB’s capitalisation. On 8th of November 2010 at a meeting of the noteholders an extraordinary resolution was duly passed. In exchange, noteholders who supported the resolution were entitled to obtain total partial nominal amount of USD 4,936,000 for bonds duly redeemed on 15th of November 2010.

In December 2009 FUIB concluded a consent solicitation in relation to its outstanding loan participation notes (as part of its thorough refinancing exercise). The purpose of the solicitation was to request noteholders’ approval for amendments to the terms and conditions of the notes, the loan agreement and the trust deed. According to the extraordinary resolution of the noteholders (i) the final maturity date was extended from 16th of February 2010 to 31st of December 2014, (ii) the rate of interest was changed from 9.75% to 11%, (iii) a partial repayment date on 16th of February 2010 clause was added under the notes, (iv) the frequency of the payment of interest was changed from semi-annually to quarterly. On 16th of February 2010 a redemption of a partial nominal amount of the notes took place in favour of noteholders who supported proposed terms and conditions. The total principal amount of the notes redeemed and cancelled amounted to USD 17,576,000.

The amount of foreign currency outstanding indebtedness

Instrument Currency Outstanding Amount
Eurobonds USD 68,369,688.99

Local currency outstanding indebtedness

No outstanding indebtedness in local currency.

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