Ukraine’s Mriya Agro notifies holders of debt restructuring discussions

By Jennifer Chiou

New York, Sept. 19 – Ukraine’s Mriya Agro Holding Public Ltd. notified holders of its $400 million of 9.45% notes due 2018 and its $250 million of 10.95% notes due 2016 that it expects to be in debt restructuring discussions with lenders and has hired Deloitte as a consultant.

According to a filing with the London Stock Exchange, the company is preparing a financial model and reviewing projections covering its core agricultural business as well as the sugar business, logistics and tractor dealership.

Mriya Agro said it expects to be in a position to share with noteholders and other lenders information arising from the financial model around the middle of October.

The Blackstone Group International Partners LLP was previously financial adviser to the company.

At the request of lending banks, Mriya Agro said it has also engaged SGS to conduct an independent review of its assets.

Queries may be directed to ir@mriya.ua.

Mriya Agro is an agricultural business based in the Ternopil region of Ukraine.

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