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VTB Agrees to Ukraine Refi

VTB agreed with Ukraine to refinance a significant part of its $2 billion loan to Kiev, the bank said Thursday.

"Both parties agreed to refinance a significant part of this loan for two years," VTB said following chief executive Andrei Kostin's visit to Ukraine.

Last week, Economy Minister Petro Poroshenko was quoted as saying Ukraine is issuing two-year government bonds for $1 billion to help settle in part a $2 billion loan by VTB that falls due at the beginning of June.

(Reuters)

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