“Nibulon” and “Kredobank” agreed on the loan restructuring

This week, “Nibulon” and JSC “Kredobank” signed the restructuring of the terms of the loan agreement.

According to the agreement, the term of the loan was extended for 6 years with a preferential interest rate and a postponement of repayment of the principal debt, “Nibulon” reported.

The company noted that in “Nibulon’s” portfolio, Kredobank is one of the first banks with foreign capital that took a step towards the enterprise in difficult times.

We will remind you that last year “Nibulon” hired the world’s largest independent investment bank Lazard to conduct an audit and debt restructuring.

The total amount owed by the holding to financial institutions, including the International Finance Corporation and the EBRD, is about $500 million. This amount does not include trade financing, which, according to some sources, amounts to more than $100 million.

Background: Lazard is the world’s largest independent investment bank, specializing in financial consulting and asset management primarily for institutional clients.

In 2015, the bank was hired by Ukraine for consultations on the restructuring of the national debt. In 2017, Naftogaz of Ukraine used the bank’s services to verify the feasibility of continuing the project on exploration, development and production of hydrocarbons in Egypt.