08:46 AM EST, 11/11/2024 (MT Newswires) -- Verde AgriTech ( VNPKF ) on Monday said that creditors representing over 92% of the company's total debt have agreed to proposed renegotiation terms.

Non-adherent creditors, who represent R$11.3 million of the debt, will be subjected to different payment conditions -- R$8.5 million will be written off from the debt and the interest rate slashed to 0.82%, from 16.59%.

Debt repayments will be made over 108 months, after an 18-month grace period following court sign-off on the renegotiated agreement.

Verde Agritech ( VNPKF ) operates in Brazil.