Oschadbank $1.2 billion eurobond restructuring

Overview:

• Oschadbank has restructured two eurobonds with a combined value of $1.2 billion which were due to mature in 2016 and 2018, extending the maturities and increasing the coupons.  
• The $700 million 8.25% 2016 notes were exchanged for 9.375% notes due 2023. 
• The $500 million 8.875% 2018 notes were exchanged for 9.625 notes due 2025.
• Lazard Frères was financial advisor to Oschadbank.

Ben Naylor - Regional editor