Raiffeisen Bank Aval repays $500m loan

Raiffeisen Bank Aval repaid the final $100m outstanding on its $500m loan yesterday (Wednesday), a move that demonstrates the dire prospects of Ukrainian borrowers being able to refinance their debt in the loan market. “The loan repayment was long-planned and was not attempted to be refinanced as there is no market at the moment,” said a spokesperson for Raiffeisen Bank Aval. The borrower’s next piece of debt to mature, an $83.5m loan due in July, will also be repaid rather than refinanced.