Russia's URSA buys back €23.55 million 8.3% notes, €26.08 million 7% notes on April 23

By Susanna Moon

Chicago, May 1 - URSA Bank said it repurchased €8.30 million and €15.25 million of URSA Finance plc's 8.3% loan participation notes due Nov. 16, 2011 in two transactions on April 23.

URSA also bought back €10 million and €16.08 million of URSA Finance's 7% loan participation notes due May 21, 2010 in two transactions on April 23.

There is €225.90 million of the 8.3% notes outstanding and €202.17 million of the 7% notes outstanding.

As previously reported, the bank authorized a debt repurchase program for the 7% notes in January.

URSA Bank is a Moscow-based bank formerly known as Sibacadembank. URSA Finance was formerly known as Sibacademfinance plc.

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