11th Jun 2015 10:51
LONDON (Alliance News) - Ukrainian dairy food producer Ukrproduct Group Ltd Thursday said it has not made the second principal amount payment of EUR300,000 under its loan agreement with the European Bank of Reconstruction and Development, due to the devaluation of the Ukrainian hryvnia.
Ukrproduct was due to make the second payment on Wednesday, having already failed to make the payment back in March, but said it continues to make the interest payments under the agreement.
The loan deal was made in March 2011, and Ukrproduct said it is in negotiations with the bank to restructure the terms of the loan but said it doesn't expect the process to be finalised before June 30.
Ukrproduct added that it will publish its annual results for 2014 in the second half of June.
Shares in Ukrproduct were untraded on Thursday, last trading at 6.00 pence.
By Karolina Kaminska; [email protected] @KarolinaAllNews
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