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Russia's VTB may contribute to 530 mln euro loan to Agrokor
July 3, 2017 / 1:47 PM / 5 months ago

Russia's VTB may contribute to 530 mln euro loan to Agrokor

MOSCOW, July 3 (Reuters) - Russia’s VTB, one of the biggest lenders to the indebted Croatian food producer and retailer Agrokor, may contribute to a new loan to the company, the bank said in emailed comments on Monday.

Last month, Agrokor has secured a total of 530 million euro ($602.4 million) loan from banks, bondholders and suppliers, as a part of the restructure process and under so-called “roll-up” arrangement.

This means that when the loan matures, Agrokor will settle some of its other debts to the lenders at the same time as repaying the loan.

VTB did not say how much it is considering to contribute but added that it did not plan to sell its exposure on Agrokor. Russia’s Sberbank, Agrokor’s biggest lender, did not immediately reply to Reuters request for a comment. ($1 = 0.8799 euros) (Reporting by Katya Golubkova and Kira Zavyalova; editing by Vladimir Soldatkin)

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