Avangard and Ukrlandfarming enterprises apply for restructuring debt to Oschadbank
Imperovo Foods LLC (Ivano-Frankivsk), PJSC Avangard (Kyiv) and PJSC Rise-Maximko (Kyiv) have filed an application for restructuring their obligations to state-controlled Oschadbank (Kyiv) within the procedure established by the law on financial restructuring.
According to the website of the administrative secretariat of the Independent Association of Banks of Ukraine, which oversees the system of financial restructuring, the first meetings of attracted creditors are scheduled for August 16.
The report does not specify information on the scope of obligations of the structures.
The moratorium on the property of the borrowers and the completion of the restructuring procedure are set until November 5, 2018.
The secretariat's website also provides a list of legal entities associated with the borrowers. Among them are Ukrlandfarming PLC (Cyprus, the holding company of the agricultural holding is Ukrlandfarming), PJSC Rise Company (Kyiv), Europa-Trans LLC (Ivano-Frankivsk), Olimpex-Agro LLC (Kyiv), Yamnytsia, a subsidiary of OJSC Ivano-Frankivskcement, City Region Company LLC, New Region Company LLC, Prime Leader LLC, and United Logistic LLC (all based in Khmelnytsky region).
Ukrlandfarming is the largest agro-holding in Eurasia. It is engaged in growing grain, producing eggs, cattle breeding, distributing machinery, fertilizers, and seeds.
Avangard is a vertically integrated holding specializing in egg production. It is the largest player in the Ukrainian market.