Contact us (+ 7 (921) 446-25-10)
Texting is available for authorized users.
Please register or log in at the website.
Your request for online training has been sent. Cbonds managers will be in touch with you shortly. Thank you!

Concorde Capital Research: Ukrlandfarming doesn’t pay coupon, prepares proposal to bondholders

March 30, 2016 | Cbonds

Ukraine’s largest farming company Ukrlandfarming (UKRLAN) announced on March 30 that it is in the process of preparing a proposal in resprect of its USD 500 mln notes, maturing in 2018. The proposal will include a request to restructure the coupon payment, which was due on March 29, but was not paid.

Roman Topolyuk: The development confirms our understanding that Ukrlandfarming is facing a gap between own operating cash flow and scheduled debt service payments. The arrest of CHF 122 mln receivables in early March, according to the legal claim of its former partner Nibulon, has contributed to the company’s liquidity crunch. We expect the company will propose reducing the coupon on these notes (via plain haircut or capitalization) and possibly extend the principal from 2018 to a later period. We reiterate our bearish view on Ukrlandfarming’s notes.

Company: Ukrlandfarming

Full company nameUkrlandfarming Public Limited Company
Country of riskUkraine
Country of registrationCyprus


Similar news:
Cbonds is a global fixed income data platform
  • Cbonds is a global data platform on bond market
  • Coverage: more than 170 countries and 250,000 domestic and international bonds
  • Various ways to get data: descriptive data and bond prices - website, xls add-in, mobile app
  • Analytical functionality: bond market screener, Watchlist, market maps and other tools