KIEV, Sept. 19 - Ukrainian coal producer Sadovaya Group has defaulted on a European Bank for Reconstruction and Development loan.

"The interest payment on the EBRD loan was not made … on September 13, which may be considered as the event of default by the creditor," the company said in a report on the Warsaw Stock Exchange. "The company is discussing loan restructuring measures with the EBRD," it said.

According to the company report, the company saw $7.63 million in net loss.