March 15 (SeeNews) - Croatia's civil engineering company Institut IGH [ZSE:IGH] said it has signed debt settlement agreements with B2 Kapital, the local unit of Norway's B2Holding ASA, related to an earlier pre-bankruptcy settlement with creditors.
The parties signed agreements on March 12 over Institut IGH's payment-in-kind (PIK) debt settlement and restructuring of its remaining senior debt obligations towards B2 Kapital on the basis of a pre-bankruptcy settlement from 2013, Institut IGH said in a bourse filing on Friday.
"In accordance with its legal obligations, by signing this agreement, Institut IGH, d.d. is fulfilling its duties from the pre-bankruptcy settlement," the company said in the filing.
The company did not disclose the amount of the debt.
The company’s shares traded 0.72% higher at 140 kuna ($22/18.5 euro) by 1428 CET on Monday on the Zagreb Stock Exchange.
IGH signed in December 2013 a deal with its creditors to avoid bankruptcy. Creditors with claims amounting to 90.15% of the total liabilities of the company signed off on the deal, Institut IGH said back then.
(1 euro = 7.58144 kuna)