Ukraine's Ukrproduct agrees with EBRD on loan restructuring
15/12/2015 08:42
LONDON, Dec 15 (Reuters) - Ukrainian agricultural produce
group Ukrproduct said in a statement on Tuesday it had reached a
restructuring deal on a loan from the European Bank for
Reconstruction and Development (EBRD).
Listed on the London Stock Exchange's small-cap AIM market,
Ukrproduct UKR.L said it had agreed with the development bank
to extend the maturity of the loan to Dec. 1 2024 from Dec. 10
2018. It also agreed a 12-month capital repayment holiday, but
added that it had paid the interest due in December under the
new terms.
Ukraine, whose finances and economy have been battered by
years of economic mismanagement and a conflict with pro-Russian
separatists in the east, has seen restructurings across its
sovereign and quasi-sovereign debt over the past year.
Ukrproduct, which makes dairy products and the traditional
fermented beverage kvass, gave no information on the size of the
loan. In 2014, the group reported consolidated sales of 31.9
million pounds ($48.3 million).
($1 = 0.6603 pounds)
(Reporting by Karin Strohecker; Editing by Dominic Evans)
((karin.strohecker@thomsonreuters.com; +442075427262; Reuters
Messaging: karin.strohecker.reuters.com@reuters.net))
Keywords: UKRAINE UKRPRODUCT GROUP/RESTRUCTURING