OREANDA-NEWS. On March 02, 2009 VAB Bank redeemed UAH 70 million 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 million on the same date. The G-series bonds were redeemed in full before the maturity date of 28 February 2011, reported the press-centre of VAB Bank.

Currently, VAB Bank has only UAH 3 million F-series bonds outstanding of the total amount of local debt securities issued (UAH 147 million 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 million”, commented Lukas Tursa, VAB Bank Deputy Chairman.