OREANDA-NEWS. September 15, 2009. Nadra Bank (NADR) announced yesterday in a press release that it has taken UBS and ING on as advisors on its debt restructuring efforts, Ukrainian News reported. Nadra previously said it signed on Rothschild & Cie and Ernst & Young to act as its advisors during negotiations. Nadra said that it has already signed agreements to restructure 25% of its total USD 900 mln in foreign debt that it took to finance commercial operations. As of July 1, Nadra Bank was Ukraine's #11 largest lender by assets, based on NBU statistics.

Concorde Capital: The restructuring of Nadra’s foreign debt is the key requirement for the bank to get recapitalized by the government. We expect the bank to eventually complete its restructuring process and be recapitalized by the state (unlike Ukrprombank – another bank that was in line for recapitalization support). The appointment of two additional advisors might signal intensified work in this regard, which is welcome, as delays in this process are having a detrimental effect on popular confidence in the banking system.

Concorde Capital is a full service investment bank operating on the Ukrainian, Russian and CIS markets. In 2007 Concorde Capital’s analytical team was recognized as the Top Team covering Ukraine by Thomson Extel's Pan European Survey. Senior Analyst Alexander Paraschiy was recognized as the Leading Pan-European Investment Analyst – European Emerging Markets. Concorde Capital is a leader when it comes to private placements and M&A deals. Concorde Capital’s sale of a stake in Electron Bank to Volksbank International AG was named the Best Ukrainian M&A deal of the year 2007 by the Adam Smith Institute.