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Russian banks yet to sign agreement with Agrokor over debt - sources
March 31, 2017 / 11:42 AM / 7 months ago

Russian banks yet to sign agreement with Agrokor over debt - sources

MOSCOW, March 31 (Reuters) - Russian banks are yet to sign a “standstill agreement” with Croatia’s Agrokor as part of debt restructuring talks, but they plan to do so in the near future, two Russian sources close to the talks said on Friday.

Media reports earlier on Friday said heavily indebted Agrokor had signed a deal with creditors overnight to restructure its debt.

“For the moment no,” one Russian source close to the talks said, in response to a question as to whether the “standstill agreement” freezing Agrokor’s debt repayments had been signed.

“But we will sign very soon. A committee of creditors has been formed, ... and we are moving fast.”

Another source said Russia’s biggest bank Sberbank , one of Agrokor’s top lenders, planned to sign an agreement on debt restructuring later on Friday. (Reporting by Alexander Winning; editing by Katya Golubkova)

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