OTP Bank restructures USD 3.85mln facility for Milkiland

OTP Bank restructures USD 3.85mln facility for Milkiland

The milk producer will pay off debt in 7 years, as a result

A business entity in Ukraine associated with Milkiland group of companies struck a deal with OTP Bank for restructuring of the credit facility worth USD 3.85mln, according to Warsaw Stock Exchange. The loan matures in June 30, 2024, according to the terms of the revised contract. At this, the company will pay smaller interest upon the loan.

Milkiland posted EUR 39mln in losses in 2016, down 1.9 times compared to 2015. Meatime, the revenues decreased by 23% y/y to EUR 147mln in the reporting period.

The group plans to finish talks with other creditors for restructuring of its debts until the end of 2017.

Milkiland group of companies is one of the largest milk producers in Ukraine’s market. The company has production facilities not only in Ukraine, but also in Poland and Russia. Cumulatively, Milkiland processes 1.33mln tons of milk a year. Milkiland cattle population stands at 4 900 heads in Ukraine only. At this, the company has 17 000ha of land plots in the country. Milkiland operates with 10 milk plants in Ukraine. The trademarks are Dobryana and Koliada in the local market.  

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