Syginty reaches deal with creditors

WSE-listed IT group Sygnity said that it has struck preliminary terms with creditors for three months of emergency financing during which both sides will negotiate long-term debt restructuring plan, the company said. According to Sygnity, the deal is non-binding, and its details should be announced this week. Back in June, the company informed that after analysis, it estimates that in H1 2016, it will make one-time book-keeping operations amounting to PLN 95.9 million, which will negatively impact its earnings by PLN 76.2 million, which would be in breach of several of the company's bonds and debts agreements. Afterward, several institutional investors demanded that Sygnity redeems its bonds and pays off debt worth some PLN 70 million.