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U.S. GRAIN SUPPLIER CHS TO BORROW $120 MILLION FROM EBRD FOR OPERATIONS IN UKRAINE, RUSSIA, COUNTRIES IN SOUTHEAST EUROPE
Interfax Ukraine
Kyiv, Ukraine, Friday, August 6, 2010
U.S. GRAIN SUPPLIER CHS TO BORROW $120 MILLION FROM EBRD FOR OPERATIONS IN UKRAINE, RUSSIA, COUNTRIES IN SOUTHEAST EUROPE
Interfax Ukraine, Kyiv, Ukraine, Fri, Aug 6, 2010
KYIV - CHS Inc., the largest grain supplier in the United States and the world's second largest agricultural cooperative, may borrow $120 million from the European Bank for Reconstruction and Development (EBRD) to expand its operations in Ukraine, Russia, "South-eastern Europe, Kazakhstan and potentially Turkey."
"CHS intends to expand its operations from approximately 1.5 million tonnes exported annually today to approximately 4.6 million tonnes in 2013, "the EBRD said in a statement on Friday."It will also expand its operations into South-eastern Europe, Kazakhstan and potentially Turkey."
The EBRD's finance is $120 million, of which $40 million will be lent immediately and $80 million will be available from 2011. The project's cost is $180 million in 2010. The EBRD board date is scheduled for September 14, 2010, according to the statement.
NOTE: CHS Ukraine is a member of the U.S.-Ukraine Business Council (USUBC), Washington, D.C. www.usubc.org