6 October 2010, Wednesday
"PUBLIC JOINT STOCK COMPANY “FIRST UKRAINIAN INTERNATIONAL BANK” (“FUIB”) has announced a consent solicitation in respect of the U.S.$275,000,000 11 per cent. Loan Participation Notes due 2014 (the “Notes”), of which U.S.$257,424,000 is currently outstanding, issued by, but without recourse to, Standard Bank plc, (the “Issuer”) for the sole purpose of funding a loan to FUIB (the “Loan”). The purpose of the solicitation, as more fully described in a consent solicitation memorandum dated 5 October 2010 (the “Consent Solicitation Memorandum”), is to request Noteholder approval for certain amendments to 1) the Terms and Conditions of the Notes; 2) the Original Loan Agreement as amended by the First Supplemental Loan Agreement and the Second Supplemental Loan Agreement, entered into by the Issuer and FUIB; and 3) the Original Trust Deed, First Supplemental Trust Deed and Second Supplemental Trust Deed entered into by the Issuer and the Trustee. In its request FUIB solicits, inter alia, to permit the announced corporate reorganisation by way of merger between FUIB and PJSC Dongorbank (“Dongorbank”) or accession of Dongorbank by FUIB.
