MOSCOW, April 10 - RAPSI. The Potok8 company owned by construction tycoon Sergei Polonsky has announced plans to restructure the debts of the Mirax Group at a meeting with investors.

The proposed terms of public debt restructuring involve the exchange of five bond issues to new bond issues, the company's press release explains.

Several banks, including URALSIB Bank, have approved the restructuring of the debts under the proposed conditions and have filed an application for the exchange of the bond issues.

Mirax Group (later renamed Potok8) was founded in 1994. The developer's major projects include a complex in the Moscow International Business Center, and a variety of luxury residential complexes in central Moscow.