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Agrospetsservice Group Project

Ukraine | Consumer Staples

Identification Code:: OP/17/0076
Total Operation Cost:: — USD
Maturity:: 84 months
Operation Status:: BSTDB Approved Amount – Approval Date

10.000.000 USD – 21 Sep 2018
: BSTDB Signed Amount – Signed Date

10.000.000 USD – 20 Feb 2019
: Status:
Active
Description and Purpose of the Operation:: USD 10 million secured loan to Agrospetsservice Group to finance part of the Group’s 2018-2019 corporate development program, consisting of: a) Reconstruction of Kutskova Elevator; b) Acquisition and reconstruction of Novomirgorod Elevator; c) Acquisition of farming company in Novomirgorod area and post-acquisition CAPEX, d) Additional working capital.
Countries of Operation:: Ukraine (100,00%)
Financial Product:: Loans
Sector:: Consumer Staples
Domain:: Private
Borrower/Client:: LLC "Novomirgorodsky Sugar" (Ukraine)
Co-Financers/Participants:: —
Guarantors/Sponsors:: Teovur Holdings Limited, a company and existing under the laws of Cyprus and Ventura LLC, a company and existing under the laws of Ukraine and other material entities of Agrospetsservice Group.
Developmental and Regional Cooperation Impact:: The Bank’s financing will support the development of a private Group of companies operating in such important sector of the economy of Ukraine as agribusiness. It will contribute to an increase in efficiency of operations of a Ukrainian grain producer and will allow it to expand its sales to the international markets, including BSTDB members Greece and Turkey. The Bank will provide long-term financing to a private Group of companies, the supply of which is limited in Ukraine.
Environmental Classification and Impact:: The Operation has been assigned the environmental and social (E&S) Category B. Providing support for reconstruction of grain elevators, working capital, and acquiring of an existing agribusiness company by the Borrower is not likely to be associated with significant E&S issues. The existing risks and impacts are generally limited, site specific, and can be readily addressed through recognized prevention and mitigation measures widely applied in the agribusiness sector.
Operation Leader:: General Industries, Transport, Tourism 1
E-mail:: gitt1@bstdb.org