UkrLandFarming’s equipment is seen inPoltava Oblast. The agricultural company isrestructuring its large debt among financial problems of its owner Oleg Bakhmatiuk, who also owned two failed banks and who owes the National Bank of Ukraine 11 billion ($340 million) in unpaid refinancing loansalone.
Photo by Ukrafoto
Ukrlandfarming, Ukraine’s largest agricultural holding in terms of land bank, intends to hold a conference call with the holders of eurobonds worth $500 million with maturity until March 26, 2018.
According to the holding, the issuer intends to discuss with the securities holders the forthcoming payment of interest income scheduled for March 26, as well as the appeal of Ukrlandfarming owner Oleh Bakhmatyuk dated Jan. 17, to the president and the prime minister with the request to intervene in the conflict with Head of the National Bank of Ukraine (NBU) Valeriya Gontareva. All noteholders who wish to participate in the conference call must verify their holdings by no later than March 20.
As reported, Ukrlandfarming in early April 2016 appealed to eurobond holders with the proposal to approve the capitalization of 77 percent interest income for 2016.