Mriya Agro Holding and the International Finance Corporation (IFC) have agreed debt restructuring terms
Mriya Agro Holding and the International Finance Corporation have reached agreement on the conditions for the restructuring Mriya’s debt owed to IFC. The two sides agreed the split of the debt into a secured and an unsecured portion as well as terms for restructuring the secured part of the debt. The unsecured portion of Mriya’s debt to IFC will be restructured on the same terms as for other unsecured creditors. The settlement is still subject to legal documentation, which the parties expect to complete shortly.
The agreement with IFC completes the process of agreeing debt restructuring terms with Mriya’s secured creditors, and the company will now be able to begin restructuring the unsecured debt on substantially the same terms agreed in autumn 2016.
Commenting, Mriya’s Chief Financial Officer Ton Huls said: “IFC’s support is very important both for Mriya and the entire restructuring process, and the agreement reached between us is important for Ukraine. We are grateful to the IFC for the constructive dialogue and look forward to further cooperation.”