{"id":1793,"date":"2017-10-26T17:56:30","date_gmt":"2017-10-26T14:56:30","guid":{"rendered":"https:\/\/mlkfoods.cy\/2017\/10\/26\/milkiland-made-another-important-step-towards-the-settlement-of-the-relations-with-the-groups-creditors\/"},"modified":"2017-10-26T17:56:30","modified_gmt":"2017-10-26T14:56:30","slug":"milkiland-made-another-important-step-towards-the-settlement-of-the-relations-with-the-groups-creditors","status":"publish","type":"post","link":"https:\/\/mlkfoods.cy\/el\/2017\/10\/26\/milkiland-made-another-important-step-towards-the-settlement-of-the-relations-with-the-groups-creditors\/","title":{"rendered":"Milkiland made another important step towards the settlement of the relations with the Group\u2019s creditors"},"content":{"rendered":"<p>On 29 of September 2017, the loan amendment agreement to Loan facility agreement between PJSC \u201cFirst Ukrainian International Bank\u201d and the Group\u2019s subsidiary, LLC \u201cMilkiland Ukraine\u201d, on restructuring of the indebtedness to this creditor, was signed.<!--more--><\/p>\n<p>The full text of Milkiland\u2019s current report on this issue could be found by the following link: <a href=\"https:\/\/mlkfoods.tonic-adv.com\/upload\/iblock\/35c\/Current-Report-13-Signing-the-Restructuring-Agreement-PUMB-26Oct2017.pdf\">https:\/\/mlkfoods.tonic-adv.com\/upload\/iblock\/35c\/Current-Report-13-Signing-the-Restructuring-Agreement-PUMB-26Oct2017.pdf<\/a><\/p>\n<p><i>Comment by Oleksandr Androshchuk, CFO, Milkiland N.V.:<\/i><\/p>\n<p><i>\u201cBy signing the loan amendment agreement to Loan facility agreement with PJSC \u201cFirst Ukrainian International Bank\u201d, we,\u00a0at\u00a0the current stage, practically settled the relations with the creditors in the Ukrainian perimeter of our Group.<\/i><\/p>\n<p><i>Earlier, by the end of July 2017, we reached the agreement on the restructuring of the indebtedness of the Group\u2019s Polish subsidiaries to Pekao Bank S.A., thus settling down the debt servicing situation in this country.<\/i><\/p>\n<p><i>In\u00a0Russia, the respective relations with the creditors are being resolving within the procedure of the bankruptcy of JSC \u201cOstankino Dairy Combine\u201d, after implementation of which, as we informed the public, Ostankino has been continuing its\u00a0usual operations.<\/i><\/p>\n<p><i>Thus, Milkiland, as of today, made several important steps towards finding a mutually acceptable compromise with the Group\u2019s creditors.<\/i><\/p>\n<p><i>We are striving to success in reaching the agreement on the restructuring of\u00a0Milkiland\u2019s remaining indebtedness under the Loan Facility Agreement with a syndicate of international banks formed by\u00a0Raiffeisen Bank International AG, as a facility agent,\u00a0UniCredit Bank Austria\u00a0AG\u00a0and ZAO Raiffeisenbank as\u00a0lenders of the facility, as the Lenders.<\/i><i><\/i><\/p>\n<p>This\u00a0<i>agreement is the main and the last unresolved issue on the way of the final<\/i><i>\u00a0financial stabilization of Milkiland, after the shocks absorbed by the Group\u2019s<\/i>\u00a0<i>business in 2014-2015, due\u00a0to\u00a0the unfavorable macroeconomic situation<\/i><i>\u00a0in the key Group\u2019s markets of Ukraine and Russia and also loss of the access to<\/i>\u00a0<i>the traditional export Russian market\u201d.<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>On 29 of September 2017, the loan amendment agreement to Loan facility agreement between PJSC \u201cFirst Ukrainian International Bank\u201d and the Group\u2019s subsidiary, LLC \u201cMilkiland Ukraine\u201d, on restructuring of the indebtedness to this creditor, was signed.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":[],"categories":[74,92],"tags":[],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.1 - 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