Yurkevych transferred $29 million of "Milkiland’s" debt to a new creditor

Yurkevych transferred $29 million of "Milkiland’s" debt to a new creditor

One of the largest cheese producers, the Milkiland Group of Anatoliy Yurkevych, has transferred the rights to a debt amounting to $29.29 million under the Syndicated Loan Agreement with a syndicate of international banks including UniCredit Bank Austria AG and ZAO Raiffeisenbank dated December 16, 2011, to a new creditor — Swestal Holding Ltd. 

This became known from the material “Liga.Business” referring to the company’s announcement on the Warsaw Stock Exchange website.

According to the announcement, the rights to half of the principal amount of Milkiland’s debt under the Syndicated Loan Agreement have been transferred to the new creditor.

“The company’s management plans to continue negotiations on the restructuring of this debt with the new creditor and to achieve progress in this matter in the near future”, — the announcement quotes the words of Serhiy Trifonov, Investor Relations Director of Milkiland N.V.

The total amount of Milkiland’s debt under the credit agreement as of December 31, 2018, amounted to $58.58 million.