Cypriot fallout hits Ukraine’s Agroton

By Steven Gilmore
18 Jul 2013

Ukrainian agricultural firm Agroton is asking bondholders for permission to amend the terms of a $50m 2014 bond after missing the most recent coupon payment.

It blamed a bail-in of Cypriot bank depositors that formed part of the rescue of that country’s banking system, saying it left the company unable to withdraw the funds it needed from its sole cash account with the Bank of Cyprus.

Large depositors in Cypriot banks were forced to ...

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