One of the largest grain market operators in Ukraine, JV Nibulon LLC (Mykolaiv), has agreed to restructure its loan agreement with OTP Bank, the grain trader’s press service reported on Facebook.
“We are grateful to the bank for the speed of decision-making and constructive approach in resolving the issue of restructuring the company’s financial obligations in such difficult times for the Ukrainian economy,” said Iryna Levkivska, CFO of the grain trader.
At the same time, Nibulon noted that the addition of another bank with foreign capital to the proposed restructuring terms once again emphasizes the confidence of foreign financial institutions in the company and Ukrainian business in general.
As reported earlier, Nibulon agreed with Kredobank to restructure the terms of the loan agreement, which was extended for six years with a preferential interest rate and deferred repayment of the principal. A similar agreement on loan prolongation for 6 years was reached with Creditwest Bank Ukraine (JSC West Finance and Credit Bank). An agreement on long-term restructuring of financial liabilities was signed with JSB Ukrgasbank.
JV Nibulon LLC was established in 1991. Prior to the Russian military invasion, the grain trader had 27 transshipment terminals and crop reception complexes, a one-time storage capacity of 2.25 million tons of agricultural products, a fleet of 83 vessels (including 23 tugs), and owned the Mykolaiv Shipyard.
“Before the war, Nibulon cultivated 82 thousand hectares of land in 12 regions of Ukraine and exported agricultural products to more than 70 countries.
In 2021, the grain trader exported the highest ever 5.64 million tons of agricultural products, reaching record volumes of supplies to foreign markets in August – 0.7 million tons, in the fourth quarter – 1.88 million tons, and in the second half of the year – 3.71 million tons.
Nibulon’s losses from Russia’s full-scale military invasion have reached $400 million. The grain trader is currently operating at 30% of capacity and has set up a special unit to clear agricultural land of mines.
