Milkiland-Ukraine agrees with FUIB on restructuring EUR 9.7 mln debt

KYIV. Oct 26 (Interfax-Ukraine) - Milkiland-Ukraine LLC, part of Milkiland Group with assets in Ukraine, the Russian Federation and Poland, has achieved an agreement with First Ukrainian International Bank (FUIB, Kyiv) on restructuring the loan of UAH 301.7 million (EUR 9.7 million).

According to a report by Milkiland on the website of the Warsaw Stock Exchange (WSE), the corresponding agreement was signed on September 29, 2017.

In accordance with the document, a new debt repayment schedule is applied: repayment of 10% of the total amount by monthly installments in the period from September 2017 to August 2018, the remaining part, including the interest paid, which is payable on the day of signing changes to the agreement, will be postponed until September 3, 2018.

A lower interest rate will be still applied to the debt of the borrower.

As reported, the subsidiaries of Milkiland Group, the Ostrowia production site, Milkiland EU Trade House and UA Trade (all based in Poland), in late July 2017 achieved an agreement with Poland's Pekao Bank on restructuring the renewable credit line of PLN7.6 million (EUR 1.8 million).