Prometey” group of companies has signed an agreement with the First Ukrainian International Bank (FUIB, Kiev) for $2 mln, according to the press service of the agricultural holding.
According to the message, the credit agreement provides for trade financing under export contracts.
According to Prometheus, the funds raised will activate business activity and support the finances of the agricultural holding, which is important in preparation for the receipt and export of the 2023 harvest.
“Step by step FUIB continues to build up cooperation with our company. We are grateful to the bank for the timely agreements and are glad to act as a reliable partner,” Irina Ivchenko, Head of Prometey’s Corporate Finance Department, commented on the deal.
Prometey Group provides services in storing, processing and logistics of crops. Before the Russian aggression the holding owned 34 elevators in the regions of Mykolaiv, Kirovograd, Kyiv, Khmelnytsky, Zaporizhzhya, Sumy, Odessa, Kherson and Dnipropetrovsk.
By the end of 2021, the group planned to receive $45 million EBITDA, while in 2020 this figure reached $32.6 million and in 2019 – $30.5 million.
“Prometey” plans to increase the land bank from 20 thousand hectares to 50 thousand hectares in 2023, and in the future to increase it to 100 thousand hectares.
