OREANDA-NEWS. November 03, 2009. According to the RBC information agency, on November 2, creditors of Nadra Bank < NADR UZ N/R > refused to restructure that bank's debts worth USD 645mn. The principal creditors of Nadra Bank are Commerzbank, Fortis Bank Nederland NV,Rabobank, Standard Bank Plc, Cargill Financial Services International, and NLB Interfinanz and OTP Bank, while the debt consisted of foreign loans (USD 470mn) and Eurobonds (USD 175mn) which the creditors want to be redeemed.

Millennium Capital sees the news to be negative for NADR, since the restructuring of its debts was the main factor involved in its recapitalization by the government. Failure to restructure its debts may initiate bankruptcy proceedings of the bank.