A holder of Ukrlandfarming's $500 million notes due March 26, 2018 initiates a conference call with other noteholders on the forthcoming payment of interest scheduled for March 26.

According to the notice forwarded to Interfax-Ukraine, this noteholder is also seeking to discuss with other noteholders the letter of Ukrlandfarming owner Oleh Bakhmatiuk dated January 17, 2017 to the president and the prime minister with the request to intervene in the conflict with Governor of the National Bank of Ukraine (NBU) Valeriya Gontareva.

All noteholders who wish to participate in the conference call must verify their holdings no later than March 20, 2017.

According to the source, this notice has nothing to do with the issuer. The requesting noteholder tries to prevent the issuers skipping a payment later this month.

As reported, Ukrlandfarming in early April 2016 appealed to eurobond holders with the proposal to approve the capitalization of 77% interest income for 2016.

The owners of eurobonds, in particular, were offered to agree to a change in the structure of payment of the two nearest coupons - instead of two coupons of 5.4375% of par value they were offered to receive 1.25% of the nominal value in cash, while the remaining amount would be added to the nominal value of the equities.