Agroholding “Mriya” and the international Finance Corporation (IFC) has agreed on terms of debt restructuring of agricultural holdings in front of the IFC.

“Both sides agreed on the division of the debt into secured and unsecured parts, as well as the restructuring of the secured portion of the debt. Unsecured debt of the holding before the IFC will be restructured to common unsecured creditors conditions. The agreement must be documented, and the parties expect to complete this procedure in the near future”, – reported in a press release of the holding on Tuesday.

It is noted that the agreement reached with the IFC, completes the process of matching the terms of restructuring of debt with secured creditors “Mriya” and now the company will be able to begin the restructuring of unsecured debt in almost the same terms that were agreed upon in the fall of 2016 .

“The support from IFC is very important for “Mriya”, and for the entire restructuring process and the agreement reached between us is important for Ukraine,” the report cited chief financial officer of the holding Ton Huls.

“Mriya” is vertically integrated agro-industrial holding, was founded in 1992 by Ivan Huta. Today, its land Bank is 180 thousand hectares, located in Ternopil, Khmelnytsky, Ivano-Frankivsk, Chernivtsi, Lviv and Rivne regions. Grow wheat, sunflowers, potatoes, corn, soy, canola, barley, peas, buckwheat and sorghum.

In August 2014, Mriya reported overdue payment of about $9 million of interest income and $120 million in debt on its obligations. The total debt in front of all financial creditors with regard to safeguards, provided a family-related Gut companies, at the time of defaulting of agricultural holdings was approximately $1.3 billion.

In early February of 2015, the operational control was transferred to creditors who have elected new leadership, and in September 2016, the committees of creditors and bond holders of the holding agreed on terms for restructuring the debt portfolio of the company, which currently stands at $1.1 billion.

For fraud initiated a number of criminal cases. The son of Ivan Guta – Nicholas declared wanted by Interpol.