Mriya starts restructuring unsecured debt
Mriya agroholding in coming days plans to start restructuring of unsecured debt and expects that it will take around two months.
"The procedure include, among other things, creditors voting to approve the restructuring at the Mriya Agro Holding Plc (Cyprus) level and a subsequent offer to exchange unsecured claims into the Restructuring Notes, Equity and Recovery Certificates as announced on April 23, 2018," the agroholding said on its website.
Mriya said that all required voting and exchange offer documentation will be publicly available in due course. Creditors will be given at least a three weeks notice periods to take their decisions.
In parallel, Mriya is progressing discussions with parties interested in purchasing the group following completion of the restructuring. A bid to acquire the group may or may not be received by end of May. Mriya will inform its creditors about the bid progress in due course.