2017-04-21T16:56:00+03:00 Economy 2023-11-15T10:04:44+02:00

Ukrainian news

Ukrainian news

PrivatBank Hires Advisors To Hold Loan Restructuring Talks With Former Stockholders

PrivatBank Hires Advisors To Hold Loan Restructuring Talks With Former Stockholders

PrivatBank has hired advisors to conduct talks with the former stockholders of the bank on loan restructuring.

Member of the supervisory board of PrivatBank / Managing Director for Eastern Europe and the Caucasus at the European Bank for Reconstruction and Development Francis Malige has said this during the round table meeting in Washington, Ukrainian News Agency reports.

Mr. Malige also described the PrivatBank's privatization as a right step.

According to the central bank's assessment, prior to the privatization, PrivatBank's need in additional financing was estimated at USD 5.5 billion.

As Ukrainian News Agency earlier reported, under the Memorandum with the International Monetary Fund, by the middle of April, PrivatBank was supposed to attract an internationally recognized expert company to lead the negotiations on terms of loan restructuring and collection under the distressed loans portfolio.