The largest agricultural holding in terms of land bank in Eurasia, Ukrlandfarming, has agreed the restructuring of the remainder of a debt on the syndicated loan issued by Deutsche Bank and Sberbank worth over $200 million, the holding has said in a press release, referring to Board Chairman and the owner of 95% of shares in the company Oleh Bakhmatiuk.

He said that the agreement includes grace interest of 2.5% per annum until June 2018 and the grace period for paying the principal of the loan.

Bakhmatiuk said that the agreement was reached by Ukrlandfarming in the difficult economic conditions when the hryvnia devaluation, the loss of assets on the occupied territories of Crimea and Donbas and the closure of the Syrian and Iraqi markets due to hostilities worsened the holding's financial and industrial figures.

"We've managed to convince creditors that even in these conditions and with positive expectations for the future development of the agricultural sector in the world, we will manage to implement all the liabilities taken in full," he said.

He said that the company reached mutual understanding with its creditors and delivered a conservative plan for financial readjustment and restoring stable growth.

Bakhmatiuk told Interfax-Ukraine that the holding hopes that the agreements with the bank would positively influence talks with with other creditors, particularly the holders of $500 million notes due in 2018.

He said that earlier agreements on rescheduling $200 million notes of Avangard subsidiary holding were achieved. The talks with export-import agencies are underway. The total sum of liabilities discussed with creditors is around $1.3 billion.

Commenting on the current production business and prospects of the holding, Bakhmatiuk said that the company has achieved stabilization and funded the sowing campaign.