Ekosem-Agrar AG Defers Interest Payment and Advances Bond Restructuring

Ekosem-Agrar AG, a German holding of Russian milk producer EkoNiva Group, has announced a deferral of interest payment due on 7 December 2024. The decision comes after discussions with e.Anleihe GmbH and the company's noteholders' advisory committee. Interest claims from the bond 2012/2027 will be postponed by one year for the 2023/2024 period, continuing a pattern from previous years as part of ongoing restructuring efforts.

The company is also making headway in its restructuring plan, particularly in talks with financing banks over the sale of company holdings in Russia. The consent of these banks is crucial. Management anticipates completing the transaction by year-end. Concurrently, preparations for bond restructuring, including the sale of the 2012/2027 and 2019/2029 bonds, are underway, though uncertainties regarding cash transfer exist.