Creditors commit at least USD 27 mln in working capital for Mriya

Обзоры по компаниям и отраслям 18.05.2015 Ukrainian agricultural producer Mriya (MRIYA), which defaulted on its debt obligations in August 2014, may get at least USD 27 mln or more capital by end-May from its creditors in order to cover working capital needs, Debtwire reported on May 14. Restructuring talks on Mriya’s debt, which totals USD 1.3 bln, could start in June, and preserving the company as a going concern is the base scenario if working capital needs are covered, the report said. The creditors committee is continuing to pursue legal action against Mriya shareholders that is aimed at gaining control of assets, Debtwire reported. Roman Topolyuk: The lack of liquidity for the sowing campaign and day-to-day operations have been among the immediate threats to Mriya’s solvency. As chances are growing that the company will find its needed financing, the outlook for the recovery value of the company’s debt is improving. Therefore, liquidating the company would provide the lowest recovery value from Mriya among possible scenarios and shouldn’t be in the immediate interests of creditors.