3 Ukrainian railways raise loans worth UAH 1.66 b from several banks

According to a report in the Visnyk Derzhavnykh Zakupivel bulletin, Odesa, Pivdenno-Zakhidna and Lviv railways have raised loans totally worth UAH 1.663 billion from several banks.

The report said that Odesa Railways attracted a renewable credit line worth UAH 444.4 million from 5 banks.

The cost of the agreement with Kyiv-based Kyivska Rus Bank came to UAH 19.5 million, with First Ukrainian International Bank UAH 3.8 million, Odesa department of the Finance and Credit Bank – UAH 5.67 million, VTB Bank – UAH 58.18 million and Vseukrayinsky Bank Rozvytku- UAH 5.125 million. The agreements were signed on May 16th 2013. The funds are raised for one year to refinance and replenish working capital.

In addition, Odesa Railways on May 8th 2013 signed an agreement with Subsidiary Bank of Sberbank of Russia to attract a 3 year loan worth UAH 496.926 million in the hryvnia equivalent. The cost of the agreement amounts to USD 23.079 million.

Pivdenno-Zakhidna Railways has raised a three-year loan of UAH 401.241 million in the hryvnia equivalent from Subsidiary Bank of Sberbank of Russia. The agreement was signed on May 15th 2013. Its cost in 5 lots amounts to USD 18.071 million.

Pivdenno-Zakhidna Railways also raised a 1 year loan worth UAH 65 million from VBR Bank. The agreement was signed on May 8th 2013. Its cost stood at UAH 13.65 million.

Lviv Railways raised a UAH 256.306 million 3 year loan from TAScombank and Subsidiary Bank of Sberbank of Russia.

Meanwhile, TAScombank will issue a UAH 40 million loan, and Subsidiary Bank of Sberbank of Russia – a UAH 216.306 million loan. The cost of the agreements signed on May 8th 2013 is not disclosed.

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