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London court grants extension for PrivatBank to file response on notes
Journal Staff Report

KYIV, Dec 8 - The London Court of International Arbitration (LCIA) has granted an extension until January 17, 2018 from December 6, 2017 for PrivatBank to file its response to requests of a trustee regarding PrivatBank's $175 million loan participation notes maturing on February 28, 2018, and $200 million loan participation notes maturing on January 23, 2018 seeking to initiate arbitration in violation of the terms of the equities circulation.

UK SPV Credit Finance Plc (Britain) published the relevant notification on the website of the London Stock Exchange (LSE).

As was reported, under the nationalization of PrivatBank, its obligations to the British-based special purpose vehicle (SPV) that was the issuer of LPNs were subject to a bail-in procedure and were exchanged for additionally issued shares of the bank.




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