EBRD TO INJECT OVER EUR 300M INTO FINANCIAL PROJECTS IN UKRAINE WITHIN TWO YEARS
June 17, 2008
The European Bank for Reconstruction and Development (EBRD) plans to inject over EUR 300 million into the implementation of projects in Ukraine's financial sector in the next two years, as announced on June 5.
The EBRD expects to increase the number of local banks that will service such products as subordinated loans and finance small- and medium-sized enterprises.
The EBRD also plans to increase the number of banks cooperating in the sphere of mortgage financing, and lending for energy-saving projects and trade facilitation. Moreover, loans will be provided to companies engaged in leasing and consumer crediting.
METINVEST HOLDING RAISES USD 625M CREDIT, TO ISSUE EUROBONDS BY 2009
June 17, 2008
Metinvest Holding Ltd., the managing company of Metinvest group, which unites the mining and metallurgical assets of Donetsk-based CJSC System Capital Management (SCM), plans to raise a USD 625 million one-year bridge credit from ING, Credit Suisse, ABN Amro and BNP Paribas banks as it said on June 9.
Metinvest Holding also plans to issue Eurobonds. The Volume of funds that the company wants to raise via the issue of Eurobonds hasn’t been disclosed.
UKRAINE'S NAFTOGAZ PLANNING SYNDICATED USD2 B LOAN
June 17, 2008
Ukrainian national oil and gas company Naftogaz is planning to raise a syndicated loan of USD 2 billion, as reported on June 9.
The loan would be used to buy gas that would be put into underground.
UNITED MEDIA HOLDING PLANS IPO IN LATE 2011 - EARLY 2012
June 5, 2008
United Media Holding (UMH, the Netherlands), the owner of Kyiv-based Ukrainian Media Holding, plans to conduct an IPO in late 2011 or early 2012, as announced on May 28.
The capitalization of the company of the conducting of an IPO would reach at least USD1 billion. A priority market for the IPO is the LSE.
GALNAFTOGAZ CONFIRMS PLANS FOR IPO IN 2009
June 5, 2008
Lviv-based OJSC Concern Galnaftogaz, the owner of one of the largest filling station chains in Ukraine, plans to conduct an IPO in 2009, as it reported on June 3. Shareholders do not plan to sell a controlling stake in the company, they are interested in raising funds for further active development.
Galnaftogaz considers the London Stock Exchange as the best market for placing its shares. The company managed to agree with international financial organizations to receive USD214 million in credit.
UKRNET TO CONDUCT IPO BY 2012
June 5, 2008
UkrNet Ltd., the owner of one of Ukraine's largest Internet portals, ukr.net, is intending to conduct an IPO by 2012, as announced on June 3. If the company's shares are placed on the stock exchange, the company may be completely sold.
UkrNet Ltd was created in 1998 as an Internet provider, but expanded to provide other on-line services (e-mail, a search system, news, weather service and other services).
RUSSIA'S SISTEMA-GALS TO BUILD MULTIFUNCTIONAL APARTMENT COMPLEX IN YALTA
June 5, 2008
OAO Sistema-Gals, the developing subdivision of Russia's Sistema company, plans to build a multifunctional apartment complex in Yalta, as it informed on June 3.
The investment in the project would be around USD 120 million, and the funds would come from its own capital and credits. Construction is to start in late 2008 and the complex is to be commissioned in 2011. The project foresees the construction of an apartment block of 24-stories with two seven-storey adjoining sections and an office and commercial building. The complex will have 523 apartments with a total area of around 70,000 square meters.
BANK NRB TO ATTRACT USD 20-30M SYNDICATED CREDIT IN OCTOBER
June 2, 2008
CJSC Bank NRB (Kyiv) is intending to attract an inaugural syndicated credit of USD 20-30 million, as informed on May 23. The credit could be attracted in October for a year, with the possibility of prolongation.
CJSC Bank NRB was founded in 2001. According to the bank, as of April 1 its only shareholder is Sberbank of Russia.
PIVDENNY BANK TO ATTRACT SYNDICATED CREDITS OF $80-100M BY LATE 2008
June 2, 2008
Pivdenny Bank (Odesa) is intending by late 2008 to attract two syndicated credits worth a total of USD 80-100 million, as reported by the bank’s representative on May 23.
In nearest three weeks the bank will attract a syndicated credit of USD 40-50 million. By late 2008, the bank is intending to attract another credit for the same sum.
EBRD COULD LEND UKRAINE'S ALCHEVSK STEEL MILL USD125M
June 2, 2008
The European Bank for Reconstruction and Development (EBRD) could lend USD 125 million for the construction a co-generation plant at the Alchevsk Iron & Steel Works in Ukraine's Luhansk region, as announced on May 23.
The overall cost of the 151.5-megawatt co-generation plant, which will recycle waste-gas and coke-gas, is USD 191 million. The EBRD's board of directors will consider the loan on June 25.
The Alchevsk mill is part of Industrial Union of Donbas (IUD), an integrated holding company that owns or manages stakes in mining and metals enterprises. The group's core assets are the Alchevsk Iron & Steel Works (AMK), Alchevsk Coke-Chemical Plant and Dzerzhynsky Iron & Steel Works (DMK) in Ukraine, as well as Dunaferr in Hungary and ISD-Huta Czestochowa in Poland.
EBRD MAY EXTEND EUR 28.5M SYNDICATED LOAN TO KRONOSPAN UA
June 2, 2008
The European Bank for Reconstruction and Development (EBRD) may extend a EUR 28.5-million syndicated facility to a wood-processing enterprise Kronospan UA Ltd. in Novovolynsk, Volyn region, as reported on May 23.
The transition impact of this project derives from the fact that there is currently no MDF producer in Ukraine, i.e. Kronospan will be introducing a new type of production to the Ukrainian economy. This will provide competition to the importers who are currently the only sellers of MDF in Ukraine. The EBRD Board of Directors will consider the loan on June 25, 2008.The total project cost is EUR 47 million.
Kronospan UA is a limited liability company wholly owned by Kronospan Holdings East Limited, Cyprus, which is part of the Kronospan group of enterprises, the leading global producer of wood based panels.
CITROЁN MAY BUILD CAR ENGINE PLANT IN UKRAINE BY 2012
June 2, 2008
AutomobilesCitroёn of France is considering Ukraine as a possible platform for the construction of a new plant to manufacture car engines, as it announced on May 26. The company is currently looking for a site for the construction of the plant, which is expected to be put into operation in 2012. In Ukraine the company is mulling over several sites for the possible construction of the plant, both in the western and eastern regions.
BANK NADRA TO ATTRACT USD 55M SYNDICATED CREDIT
June 2, 2008
Bank Nadra (Kyiv) is intending to attract a syndicated credit of USD 55 million, organized by BayernLB (Germany) and Standard Bank (Britain), as the bank’s representative said on May 27. The credit is to be attracted for one year with an interest rate of LIBOR plus 1.5% per annum.
Nadra Bank was established in 1993. According to the National Bank of Ukraine, by April 1, 2008, the bank ranked 7th among the country's 176 operating banks.