KSG Agro agricultural holding increased the multicurrency credit line at TAScombank (Kyiv) from $12 million to $18.5 million, the company said in a report published on the website of the Warsaw Stock Exchange on Monday.
“We can use these lines for sowing and harvesting […] In addition, one of the goals of increasing the credit line is to refinance foreign exchange obligations and hedge currency risks,” Chairman of the Board of Directors of KSG Agro Serhiy Kasianov said.
He said that part of the funds is also planned to be used for further reconstruction and modernization of the pig breeding farm in the village of Nyva Trudova (Dnipropetrovsk region).
According to the report, hryvnia equivalent for the volume of the credit line is UAH 522 million, the term is three years. The interest rate was not disclosed.
As reported, in April 2020, KSG Agro increased the existing credit line at TAScombank by almost $4 million, to $12 million.
The vertically integrated holding KSG Agro is engaged in pig breeding and production, storage, processing and sale of grain and oilseeds.