IMB Group buys back existing 3rd party subordinated debt to International Mortgage Bank

Kyiv, October 30, 2007. IMB Group Public Ltd, Ukraine’s leading pure-play consumer lender, announced today that it has repurchased US$3 million subordinated debt to its major subsidiary – International Mortgage Bank ("IMB"). The respective repurchase was made through an Assignment Agreement between IMB Group and WNISEF (managed by Horizon Capital). After the repurchase, $3 million Subordinated Debt was registered by NBU as IMB Tier 2 Capital.

 

IMB Group continues to strengthen the balance sheet of IMB via long term funding and is preparing International Mortgage Bank for explosive growth in the Ukraine retail bank market.  IMB Group also is in the process of registration of US$19.8 million subordinated debt as a contribution to IMB Tier 2 Capital.

 

IMB Group Public Ltd. is Ukraine’s leading pure-play consumer lending platform, offering mortgages, POS loans, and deposits. IMB Group owns 100% stakes in International Mortgage Bank (IMB) and Family Credit, a consumer lending intermediary. IMB Group is backed by Horizon Capital, Ukraine’s leading private equity fund manager, and leading global private equity firms Warburg Pincus with over $20bn under management, and East Capital with over $5bn under management.