MILKILAND (MLK): Failure to observe certain obligations of the Loan Facility Agreement with a Syndicate of Banks - raport 10

Raport bieżący nr 10/2014

Podstawa Prawna:
Art. 56 ust. 1 pkt 2 Ustawy o ofercie - informacje bieї№ce i okresowe

The Board of Directors of Milkiland N.V. (the "Company") hereby informs that the Company and its subsidiaries (the Group) failed timely to fulfil certain obligations under the Loan Facility Agreement with a syndicate of international banks formed by Raiffeisen Bank International AG as facility agent, UniCredit Bank Austria AG and ZAO Raiffeisenbank as lenders of the facility (the Lenders).

Such obligations include the amortisation schedule of the Loan and the requirement to ensure certain levels of Borrowings to EBITDA and EBITDA to interest expense ratios.

The Group has entered into negotiations with the Lenders to waive the breaches of these obligations and to sign a Loan Restructuring Agreement.

Currently, the Group is reviewing its financial position and business plans in order to develop and offer the best restructuring options in the current economic and political environment in Ukraine.