Ukrainian Galnaftogaz signs $100M EBRD financing
Reuters Loan Pricing Corporation
January 9, 2008
The European Bank for Reconstruction and Development (EBRD) announced that it has provided a $100 million financing package to OJSC Galnaftogaz to support the modernisation and national expansion of the group’s OKKO petrol stations, Ukraine’s largest petrol chain.
The deal is split between a $30 million, nine-year A loan with EBRD as mandated lead arranger, a $50 million, seven-year B loan, which was syndicated to bookrunner and underwriter Erste Bank and arranger Cordiant, and a $20 million, nine-year C loan provided by the EBRD.
The A and B loan include a two-year grace period, while the C loan includes a seven-year grace.
IFC is providing a parallel loan facility, including an A Loan of $30 million, a $50 million B loan and a $20 million C loan.
Proceeds will finance modernisation and expansion of Galnaftogaz’s network of petrol stations across Ukraine.
Galnaftogaz is an independent petroleum products distribution company based in western Ukraine.