3 Jun 2024 16:02

Ukraine's Nibulon, Raiffeisen sign bilateral agreement to restructure $45 mln loan for six years

MOSCOW. June 3 (Interfax) - Nibulon LLC, among the largest operators on Ukraine's grain market, and Kyiv-based Raiffeisen Bank have signed a bilateral agreement to restructure a loan totaling $45 million for a period of six years, Ukrainian media reported, citing a statement from the grain trader's press service posted on social media.

The agroholding said that the group of companies has more than 25 Ukrainian and foreign creditors, and the group has already signed terms and conditions for debt restructuring with the absolute majority of the creditors.

Nibulon CFO Irina Levkovskaya said that the holding's enterprises have suffered from flooding owing to heavy damage to the Kakhovka Hydroelectric Power Plant, as well as damage to the grain terminal at the Kazatsky branch.

"Realizing this fact allows us to understand the level of trust that the bank has in Nibulon, which the company receives along with the restructuring," Levkovskaya said.

Founded in 1991, Nibulon previously owned 27 transshipment terminals and complexes for receiving crops with combined storage capacity of 2.25 million tonnes, and a fleet of 83 vessels. The company also owned the Nikolayev Shipyard, cultivated 82,000 hectares of land and exported agricultural products to over 70 countries. The company currently operates at about 30% of capacity.