The world’s largest investment bank will help “Nibulon” with debt restructuring

The company “Nibulon” hired the world’s largest independent investment bank Lazard. It will conduct an audit of the company and debt restructuring.

The company made the decision a month and a half ago, after the death of the founder and general director of “Nibulon” Oleksiy Vadaturskyi. This is reported by Latifundist with reference to two sources in the banking market.

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 the publication, amounts to more than $100 million.

According to a representative of one of Nibulon’s creditor banks, the decision to hire Lazard is necessary to increase the trust of a neutral party that studies the state of the company and offers options for debt restructuring. An independent bank will act as an intermediary between creditors and the borrower.

Mykhailo Rizak, deputy general director for interaction with the authorities of “Nibulon”, commented on the plans for debt restructuring to the publication.

“‎In the conditions of a logistical collapse, when cabotage is blocked, logistics are sky-high, more than 10 branches are under occupation and almost 2,500 workers are affected by the war, we are building new export routes and have reduced the credit portfolio by several hundred million dollars. We are convinced that the restructuring of the balance is in everyone’s interests, because creditors will have the opportunity to receive the owed costs in the projected newly established terms, and we will continue to implement the UN programs for world food security and will have a breather to start with new strength,” Rizak said.

Reference: 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.