Bullboard - Stock Discussion Forum Verde AgriTech Ltd. T.NPK

Alternate Symbol(s): VNPKF

Chemicals Basic Materials

Verde AgriTech Ltd is an agricultural technology company that produces potash fertilizers. The principal activity of the Company is the production and sale of a multi-nutrient potassium fertilizer marketed in Brazil under the brands K Forte and BAKS, Silicio Forte, and internationally as Super Greensand (the Product). K Forte is a potash fertilizer that is a source of potassium, silicon, and... see more

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Verde AgriTech Ltd. > Debt restructuring plan

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Post by kanerfalk on May 15, 2024 12:41am

Debt restructuring plan

In the second quarter of 2024, the Company initiated a Strategic Debt Restructuring Plan, which includes seeking specific Preliminary Judicial Relief to obtain temporary protection against actions and foreclosures by 7 banks. This request is aimed at ensuring stability while we renegotiate terms with our financial creditors. In compliance with legal requirements, all loan payment obligations have been suspended since April 2024. It is important to emphasize that this measure does not affect the Company's operations, nor does it compromise our contractual obligations to suppliers. Negotiations with the banks are progressing constructively, and the Company anticipates achieving a significant improvement in debt terms, including a substantial extension of the payment period, a grace period, and a reduction in interest rates. This strategy is aligned with Verde’s long-term objectives and reaffirms the Company’s commitment to financial and operational sustainability.

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