OREANDA-NEWS. Due to the failure of Osthem Holding Ltd to perform its obligations under the USD 842.5 mln facility, Gazprombank (OJSC) has to accelerate the repayment of the principal amount and the interest accrued.

Should a non-payment of the principal amount and the accrued interest occur upon maturity (as defined by the facility agreement and as extended until the end of year 2014), Gazprombank shall demand repayment from the four Ostchem fertilizers producing plants that act as guarantors under the mentioned facility, and enforce the collaterals provided by these plants, including the pledges of 5.679 bn cubic meters of natural gas, stored in the Gas Storages in Ukraine.