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EBRD extends further loan to biggest Ukrainian sunflower oil producer
The European Bank for Reconstruction and Development, Société Générale, Raiffeisen Zentralbank Österreich AG and BNP Paribas have jointly arranged a syndicated loan to the leading Ukrainian sunflower oil producer, Dnipropetrovsk Oil Extraction Plant. A $41.5 million secured working capital facility opened to Dnipropetrovsk is the EBRD's third project with the company in Ukraine.
The financing of the Dnipropetrovsk plant, a subsidiary of Cereol S.A., comprises a $26.5 million A-loan for the EBRD's account and a $15 million B-loan syndicated to the three commercial banks. The loan will replenish the plant's working capital, enabling it to purchase high-quality sunflower seeds from Ukrainian farmers. The loan will also help strengthen the plant's export sales to Russia, where it holds around 20 per cent of the sunflower oil market.
The Dnipropetrovsk plant has now been an EBRD client for seven years. Hans Christian Jacobsen, the EBRD's Director for Agribusiness, said the Bank is pleased to have played an important role in the company's growth and development since the first investment in 1995. Dnipropetrovsk Oil Extraction Plant has become one of Ukraine's leading agribusiness companies, renowned for the quality of its products and steady support of Ukrainian farmers.
The EBRD has signed 150 investments in the agribusiness sector totalling more than €2.5 billion. In Ukraine, the EBRD's cumulative investment stands at €1.4 billion through 41 projects.
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