12 September 2016
Today Mriya Agro Holding published on its site key terms for the restructuring of current unsustainable debt portfolio of the company in amount of close to USD 1.1bln. According to the statement all unsecured debt will be treated basing on pari passu principle, new management of the company and Committee of Creditors agreed that Total Sustainable Debt of Mriya is USD 330M, which is to be serviced by the company (including USD 75M of secured debt and USD 46M of new working capital). The rest of unsecured debt will be converted to Equity-like instruments, so that creditors will be able to fully use upside potential for debt recovery. Management of Mriya plans to launch restructuring process and signing of restructuring documentation till November.