Mirland completes restructuring of debt to Sberbank, continues talks with bondholders
MOSCOW. Sept 20 (Interfax) - Mirland, a developer, has completed the process of restructuring the debt of its subsidiaries on Sberbank credits for $160 million.
The completion of the restructuring the debt to Sberbank was one of the conditions, envisaged by the plan for settling the debt to Mirland's bondholders, the company said. Now this condition has been met, the developer is continuing talks with bondholders.
It was reported that amendments to credit agreements with Sberbank were signed on June 29. This concerns several credits for a total sum of $160 million, now they have a single timeframe for repayment - 2026.
In order to make provisions on obligations to the credit organization, the developer agreed earlier on the buyback of the stake of minority partners in the Century project, a Class B+ office complex in the center of Moscow.