Ukraine's Finance and Credit Bank holders consent to changes for 10 3/8% loan participation notes

By Jenifer Chiou

New York, Dec. 30 - Finance and Credit Bank Ltd. announced that holders passed an extraordinary resolution for amendments to the terms of the $100 million of 10 3/8% loan participation notes due 2010 issued by Finance & Credit Ukraine BV.

The proceeds of the notes were used to fund a loan by VTB Bank Europe plc to Finance and Credit Bank.

Holders voted on Wednesday to pass the terms of the supplemental trust deed, amending certain terms and conditions of the notes, and the deed of waiver.

Finance and Credit Bank is based in Kiev, Ukraine.

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