UPDATE 1-Ukreximbank creditors say back debt restructuring proposal

April 22, 2015 2:30 PM

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LONDON, April 22 (Reuters) - Creditors holding more than a quarter of Ukreximbank's dollar bonds backed its debt swap proposals on Wednesday, potentially allowing it to become the first Ukrainian entity to restructure debt under an IMF-backed plan.

Investors who said they held 27 percent of the outstanding principal of Ukrexim's $750 million bond called terms proposed by the bank a "reasonable compromise", and added they would vote next week in favour of a temporary maturity extension requested by the bank.

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