UTair mandates Raiffeisenbank as a debt restructuring advisor

UTair Boeing 737-500
UTair Boeing 737-500 (© O.Pritzkow)

UTair Aviation JSC mandates ZAO Raiffeisenbank to act as a debt restructuring advisor. «Restructuring of debt is an important and timely project which is aimed at securing stability and sustainability of UTair’s business», noted UTair CEO Andrey Martirosov. The bonds issued by UTair-Finance LLC, series BО-09 and BО-10, are part of the complex debt restructuring programme.

«Nonpayment at the investor put option by our subsidiary company, UTair-Finance LLC, is not a critical issue. UTair is not the first company which faced such difficulties. This situation is of a temporary nature and should not affect the company’s operations, if timely and reasonable solution between the lenders and the company is found. Raiffeisenbank and UTair have started working on the restructuring plan and are going to present it to investors in the coming days», stated Mr. Martirosov.

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