KYIV. April 19 (Interfax-Ukraine) – Kyivsky cardboard paper mill (Obukhiv, Kyiv region), a leader in Ukraine’s pulp and paper industry in terms of production and sales, has opened a UAH 72 million one-year loan from Pravex-Bank (Kyiv) to replenish its working capital.
The mill reported that the credit agreement was signed on March 9, 2016. A first tranche of UAH 11 million arrived on April 18.
The credit rate is 21.5% per annum. The company used equipment and goods as collateral for the loan.
Net asset value of the mill as of January 1, 2016 totaled UAH 735.117 million.
Kyivsky cardboard paper mill is one of the largest cardboard and paper producers in Europe. It employs almost 2,200 people. It sells produce to almost 700 companies in Ukraine, some CIS member states and the rest of the world.
In 2015, the mill saw a 54% rise in production from 2014, to UAH 3.857 billion.
Austria’s Pulp Mill Holding holds 99.3% in the mill.
Pravex-Bank was founded in 1992. Its only shareholder as of October 2015 was Intesa Sanpaolo S.p.A.
Pravex-Bank ranked 32nd among 123 operating banks in the country as of October 1, 2015 by total assets (UAH 4.341 billion), according to the National Bank of Ukraine.
