OREANDA-NEWS. December 17, 2009. On 16 November, the Ukrainian XXI Century property developer announced the restructuring of USD 56mn of the loan borrowed from Eurobank EFG Cyprus in 2008.  USD 4mn of the loan was redeemed in late 2008, the loan itself maturing in 2011.

Millennium Capital sees the news to be positive for the Company. Together with USD 175mn of Eurobonds restructured in July 2009, XXI Century has restructured the majority of its debts (93%) in 2009. This will enable the Company to preserve its cash flow level and maintain its operational activities until the real estate market starts recovering.