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Provider: Reuters Investment Profile

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UNIOR dd Announces Details of Its Financial Restructuring Following Signing Agreement with Banks

Friday, 26 Jul 2013 03:00am EDT 

UNIOR dd announced that it has concluded an agreement with all commercial banks for its financial restructuring which it has provided since October 2012. Together with advisory company, PricewaterhouseCoopers, the Company has made a study on its financial restructuring which was the basis for the composition of the General agreement for financial restructuring which was signed with 12 commercial banks that it cooperates with. According to the terms of the agreement, in the period until 2019 year, the Company will pay part of its total debt which is equal to EUR 142.1 million. UNIOR dd is to pay up to EUR 70.9 million via regular repayments to banks of EUR 30.4 million, EUR 12.1 million to SID Banka dd and EUR 28.7 million from the sale of non-operating assets as extraordinary repayments. Under the terms of the agreement, the commercial banks together with SID Banka dd are to guarantee the warranty potential for production machines program. The Company looks for a strategic partner for Tourism program. 

Company Quote

21 Nov 2014