OREANDA-NEWS  On 05 March was announced, that VAB Bank redeemed UAH 70 mln of the domestic G-series bonds after the bondholders had exercised their put option and paid coupon (13% p.a.) in the amount of UAH 2.25 mln on the same date. The G-series bonds were redeemed in full before the maturity date of 28 February 2011.

Currently, VAB Bank has only UAH 3 mln F-series bonds outstanding of the total amount of local debt securities issued (UAH 147 mln were redeemed in 2008). The F-series bonds were issued for the 3-year period with maturity on 31 May 2010, and have no put option before the maturity. On 2 March 2009, VAB Bank paid coupon of 18% p.a. (UAH 130 thousand) on F-series bonds.

“Such bondholders behavior was predictable given the liquidity shortage in the market. We were ready and met our obligations in full. The next substantial debt coming due in mid-2010 is VAB Bank’s LPNs for the total amount of USD 125 mln”, commented Lukas Tursa, VAB Bank Deputy Chairman.