The deal consisted of separate agreements with each of the creditors and the syndicate. The company's total credit burden decreased by more than three times, and the shareholding structure has not changed.
Such results were achieved in several ways: change in the interest rate, "vacation" to repay the principal amount of the debt, an extension of the loan schedule, writing off part of the debt. The bank benefits from write-offs
Reducing the amount of debt can be achieved only in one way - by writing off part of it by the bank. However, this does not mean that it is not beneficial for the bank. Usually, banks accept such conditions in exchange for repayment of the entire agreed loan amount in one tranche after signing the agreement. Formally, banks accrue reserves for loans that fall into the category of doubtful ones. When there is a restructuring and repayment of the previously reserved loan amount - banks, from an accounting point of view, make a profit. Also, they receive liquidity that they can place and start earning.