Ukrtelecom’s creditors drop early payment demands

16 Feb 2011

Credit Suisse and Deutsche Bank have withdrawn their demands for Ukrtelecom to make early repayment of a USD222 million debt, Millenium Capital writes, quoting an anonymous insider speaking to Interfax on 15 February. The telco, which is in the process of being sold by the Ukrainian government to Austrian investors, has reportedly negotiated a new debt restructuring plan which comes into force once it makes good on a semi-annual interest payment of USD56 million by 25 February.

Ukraine, Ukrtelecom (incl. TriMob),

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