Business News

Istrabenz Secures Debt Refinancing Deal

Koper, 04 March (STA) - The troubled Istrabenz holding has come to a debt refinancing agreement with creditor banks, which stipulates that the company can pay off its remaining EUR 158.9m debt in two instalments, the first of which will be due in five years, the company said on Monday.

Istrabenz, which is undergoing court-mandated debt restructuring and was supposed to pay off the rest of its debt this year, will have to secure EUR 92.9m in the coming five years and the rest in the five years to follow.

The holding is convinced that the agreement will enable it to continue reducing its debt and give it a chance to survive.

Istrabenz has paid back EUR 276.5m to creditors since 2009, which is EUR 63.51% of the original debt, and spent another EUR 31.8m for interest payments.

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