Ukraine's Ukrproduct agrees with EBRD on loan restructuring
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), according to Reuters.
Ukrproduct said it had agreed with the development bank to extend the maturity of the loan to Dec. 1 2024 from December 10, 2018, Reuters reported.
It also agreed a 12-month capital repayment holiday, but added that it had paid the interest due in December under the new terms.
Read alsoEC to provide Ukraine with EUR 100 mln for decentralizationUkraine, 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).