OREANDA-NEWS. January 12, 2010. The meeting of holders of notes of Slavinvest Finance S.A. absolutely approved the proposal of BTA Bank (Moscow) to change the note repayment schedule, reported the press-centre of BTA Bank.

It should be reiterated that the proposal, presented to noteholders on December 9, 2009, concerned extension of the full repayment date, transformation of the bullet repayment of the principal amount into the amortization profile, as well as the change of the periodicity of coupon payments.

According to the resolution of noteholders, on January 15, 2010 the Bank is to repay a part of the principal amount , which is 10% of the amount of notes outstanding and pay the accrued interest over December 21, 2009 till January 15, 2010. The agreed-on repayment schedule suggests repayment of the principal amount over the period till December 21, 2011 by equal installments once in six months, as well as quarterly payment of accrued interest. As of January 4, 2010 the amount of Slavinvest Finance S.A. notes outstanding totals USD 69 884 000.

- The completion of solicitation of consent to changes into the note repayment terms an conditions is the evidence of that investors consider BTA Bank as a reliable partner in the external borrowings market, which is able to service its obligations and offers its customers favourable terms and conditions under the current market situation – says Mr. Dmitry Kizenkov, Deputy Chairman of the Board at LLS “BTA Bank” (Moscow).

LLS “BTA Bank” (Moscow) believes that the reached agreement of the suggested extension arrangements will allow the Bank to expand its range of active banking transactions, diversify and increase its resources in 2010, which is in turn to enable it to timely service and repay its obligations outstanding and strengthen positive trends of the Bank’s business development.