"T.M.M."-Ltd. announces that its UAH 765 million debt with JSC Oschadbank has been restructured. The procedure of financial restructuring lasted for several months with the restructuring agreement signed on 19 March 2019.
In accordance with terms of the restructuring agreement, the majority of the Company’s debt will be redeemed by transferring the assets pledged as collateral to the bank. The parties will continue to cooperate within the agreement on organization of sales and lease of the properties.
TMM’s debt restructuring was carried out in accordance with the procedure stipulated by the Law of Ukraine on Financial Restructuring, which is aimed at facilitating out-of-court restructuring of financial indebtedness of Ukrainian companies.
KPMG Ukraine acted as an independent expert in the process.