Brief: KSG Agro signs LOI related to debt restructuring

KSG Agro SA

01/04/2016 08:21

April 1(Reuters) - KSG Agro SA  KSG.WA : 
    * Said on Thursday its board of directors notifies that the 
company signed a preliminary letter of intent (LoI) with the 
International Creditors (including the ECAs, banks 
and international suppliers) related to the restructuring of the 
total debt in the amount of $20 million 
    * Major points contained in the LoI include the remittance 
of goodwill payments to the International Creditors amounting to 
1 pct of each outstanding principal amount and a step-up 
repayment structure of ten years starting from 2016. The 
principal amounts under the plan will thus increase after the 
first four years of debt service 
    * As of March 31 the Company has made the goodwill payments 
in full 
 
     
  
     
 Source text for Eikon:  urn:newsml:reuters.com:*:nEM3129560 
     
 Further company coverage:  KSG.WA   
    
 
 
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