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According to press-service of the company "Grain-Trading Company" Ltd., part of the company "Grain-Trading Company Allseeds Ukraine", received the first transhe for $50 mln within the attraction of syndicated loan of $100 mln.
According to press-service, "Grain-Trading Company" Ltd. received the first transhe for $50 mln within the attraction of syndicated loan of $100 mln. The credit amount is divided into two tranches by $50 mln each: the first one is long-term tranche, the second one is short-term determined to finance raw material purchases.
The underwriters of the credit are Standard Bank Plc. (SB), ING and Reiffeizen Bank Aval ("Bank Aval").
The term of credit is 3 years with possibility of further prolongation up to 5 years.
According to the press-service, the group plans to use credit to finance investment program and circulating assets. They consider basic funds and commodity stocks of the company as a pledge.
According to the Chairman of Allseeds Group International Group Grain Trading Company Allseeds Ukraine Lyubomir Mudrich, this deal set a new reference point for international financing of oilseeds processing (sunflower seeds, rapeseeds, soybeans) for vegetable oil. The explanation is that the terms of deal are longer as compared to ordinary deal under similar obligations, and the main means of the company serve as form of support.
Reference. Group "Grain-Trading Company Allseeds Ukraine" was founded in 2005 by Ukrainian holding "Grain-Trading Company" and "Allseeds S.A." (Switzerland). The group includes production enterprise OJSC "Kirovogradoliya" (Kirovograd oblast), oil-pressing OEP "Ecotrans" (Nikolaev oblast), trade-purchasing and transport companies, grain-accepting enterprises with total storage capacity of about 700.000 tonnes and enterprises investing to agro-industrial complex of Ukraine.
Following the results of 2006/07 MY, the company's share is 11.7% of the total volume of sun oil produced in Ukraine, as well as 10.4 % of the total export of Ukrainian sun oil.
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