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UkrGasBank Has Completely Repaid the Club Loan - On December 15th UkrGasBank repaid in full and in a timely fashion its $20M club loan, attracted in December 2007
UkrGasBank Has Completely Repaid the Club Loan

 

PRZOOM - /newswire/ - Kiev, Ukraine, 2008/12/29 - On December 15th UkrGasBank repaid in full and in a timely fashion its $20M club loan, attracted in December 2007.

   
 
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According to Bank’s CEO Vadim Lyashko “UkrGasBank has repaid the $20 mn club loan and met all its liabilities thereunder”. He also pointed out that, as soon as the situation in the international markets stabilizes, UkrGasBank intends to resume the practice of cross-border borrowings. “As soon as international players begin eyeing the Ukrainian debt market again, we will take advantage of all the external funding opportunities”, he added.

As was earlier announced, on December 17th, 2007 UkrGasBank attracted a $20 mn club loan. Standard Bank Plc (UK) coordinated the deal. 9 financial institutions committed to the facility.

About Ukrgasbank
UkrGasBank was established in 1993 - Top 20 Ukrainian bank Total assets – USD2 613m, shareholders’ equity – USD245m as of 1 July 2008

Universal bank of a national scale with 15 years experience in the Ukrainian market
Strong focus on SME’s and retail banking
Transparency and public information policy

Corporate governance meeting international standards and world’s best practices
Accounts audited by Deloitte & Touche under IFRS since 1997

Heavy emphasis on enhanced risk management policies

Nationwide network represented by over 355 points of sale for over 18,000 corporate and 600,000 retail clients as of 1 July 2008
Principal member of MasterCard (2000), VISA (2002) and UkrCard (2002)

International and local ratings:
Fitch: Long-term IDR 'B-', Short-term IDR 'B',
National Long-term 'BBB-' (ukr), Stable
Moody’s: B2/Not prime foreign currency deposit, E+ FSR, ‘A2.ua/-‘NSR bank deposits - domestic currency, Stable

International track record:
• December 2006 - $16m debut syndicated loan
• June 2007 - $46m syndicated loan
• December 2007 - $20m syndicated loan
• August 2008 - $23m syndicated loan

Participation in international projects:
2004 - The EC TACIS programme Banking sector reform in Ukraine;
2005 - The USAID Programme on Development of Mortgage Loans in Ukraine;
2006 - The IFC project Corporate Governance in the Ukrainian Banking Sector;
2007 - The World Bank Export Development Project-2.

An active player in card, securities, bank metals market, documentary business and project finance.

 
 
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Agency / Source: UkrGasBank

 
 

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UkrGasBank Has Completely Repaid the Club Loan

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Contact: Evgeny Molchansky 
+38 044 4907680 emolchansky[.]ukrgasbank.com
 
PRZOOM / PRTODAY - Newswire Today disclaims any content contained in this article. If you need/wish to contact the company who published the current release, you will need to contact them - NOT us. Issuers of articles are solely responsible for the accuracy of their content. Our complete disclaimer appears here.
IMPORTANT INFORMATION: Issuance, publication or distribution of this press release in certain jurisdictions could be subject to restrictions. The recipient of this press release is responsible for using this press release and the information herein in accordance with the applicable rules and regulations in the particular jurisdiction. This press release does not constitute an offer or an offering to acquire or subscribe for any UkrGasBank securities in any jurisdiction including any other companies listed or named in this release.

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