Pharmacy Chain 36.6 reaches restructuring agreement

Russia-based Pharmacy Chain 36.6 and restructuring agent ZAO Raiffeisenbank reached an agreement with 94% of its Series 01 bondholders, representing RUR1.8 billion (USD58 million). The principal debt repayment will now take place in six quarterly payments, from March 2011 through June 2012. CFO Dmitry Anisimov said: “The successful restructuring demonstrates investors’ trust in the company and their appreciation of the company’s potential. Even in difficult market conditions, Pharmacy Chain 36.6 could offer investors acceptable restructuring terms. The company will continue its negotiations with the remaining Series 01 bondholders and believes in their successful completion.”