NIBULON, one of the largest grain exporters and market operators in Ukraine, have been working together with the group of international lenders on the restructuring term aiming to achieve the deal on its existing Pre-Export Credit Facility (PXF).
Syndication that consists of ING Bank NV (the Netherlands), the European Bank for Reconstruction and Development (EBRD), Crédit Agricole CIB (France France via its London branch) and FMO, the Dutch Development Bank, and NIBULON have successfully signed the agreement on 21st of June 2024, extending the maturity of the facility for 2 years.
Commenting on the signed deal, Andriy Vadaturskyy, CEO of NIBULON said,
Commenting on the signed deal, Andriy Vadatursky, CEO of NIBULON said, “The restructuring of the pre-export finance facility is primarily a step taken towards Ukrainian small and medium-sized agricultural producers, as NIBULON will use the released funds to pay them. Now, as the harvesting and procurement campaigns have begun, the extension of the maturity date will allow agricultural producers to receive a fair price for the grain grown under extremely difficult conditions on time. This, in turn, will ensure the winter crops sowing campaign next year.”
“Completion of the restructuring of the PXF, being one of the main facilities financing export activities of NIBULON, is an important milestone for the company on the way towards finalization of its restructuring program. We believe that thanks to the strong support and commitment of the existing lenders during this restructuring, the company will strengthen its capital structure and will continue operating holding its position of the leading Ukrainian grain exporter.” – Vitalina Marchenko, Head of Corporate Finance at NIBULON, commented of the agreement.
Overall, the agreement with the reputable group of creditors is a convincing proof of the international community’s trust in NIBULON and a demonstration of the company’s readiness to fulfill its obligations.