Agroholding "Ukrlandfarming" has received a 5-year credit in the amount of 600m USD
2011-06-30 18:03:08
Interest rate of the credit is Libor+8%. Lead-manager of the agreement is company "Troika Dialog". Funds are provided by the German company Deutsche Bank AG and Sberbank of Russia. According to the owner of " Ukrlandfarming ", the loan is the largest syndicated loan in Ukraine since independence. Bakhmatyuk, the owner of the company noted that funds raised will be directed to the construction of elevators and purchase of farm machinery, which will give a quick return on investment. In particular, there is a plan to build two facilities with total capacity of 650 thousand tons for a single-time grain storage in the Western and Southern parts of Ukraine.
"We intend to begin construction this year and complete it in a year and a half" – as stated by Oleg Bakhmatyuk .He stressed out that the syndicated loan does not mean that the company abandoned plans of initial public offering (IPO).
UAIndex
According Bakhmatyuk, credit will allow significantly improve the financial position of the company to resolve debt problems of the recently acquired agricultural holdings and greatly increase the chances of success of possible future IPO. “Ukrlandfarming" is one of Ukraine's largest producers of corn and sugar, and one of the leading players in the stock-raising market. After the acquisition of a majority of stock of PJSC "Rise" and "Dakor Agro Holding" in early 2011, the company cultivates approximately 500 hectares of land.