Business news from Ukraine

UKRAINE WILL RAISE EUR250 MLN FROM CARGILL AT 5.15-6.25%

The government of Ukraine has instructed the Ministry of Finance to attract two loans from Cargill Financial Services International, including EUR100 million for two years at 5.15% per annum and EUR150 million for five years at 6.25% per annum.
According to Cabinet resolution No. 651 of July 10, published in the Uriadovy Kurier newspaper, interest income will be paid quarterly.
The document notes that state external borrowing is carried out within the framework of the law on the national budget for 2019, other details are not available.
As reported, Ukraine in the middle of June of this year placed the issue of seven-year eurobonds worth EUR1 billion on the foreign loan market at 6.75% per annum. This was the first sovereign issue of Ukrainian eurobonds in euros in the last 15 years. The demand for it exceeded the supply by 6 times.
According to the Ministry of Finance, investors from the United Kingdom, the United States, Germany and other European Union countries bought most of the eurobond issue: their share was 32%, 27%, 17% and 13% respectively. Investors from Switzerland bought 7% of the issue, while the share of investors from Asia was 4%.

GRAIN TERMINAL OF CARGILL AND MV CARGO COULD HANDLE FIRST MLN TONNE OF GRAIN BY LATE 2018

The grain terminal of Cargill and MV Cargo in Yuzhny port (Odesa region), whose capacity will total 5 million tonnes of grain per year, and the cost is estimated at $150 million, could by the end of 2018 transfer the first one million tonnes of grain, the co-owner and CEO of TIS Port, Andriy Stavnitser, has said. “We plan to launch the MV Cargo terminal in summer and I hope we will handle one million tonnes by the end of the year. I will be superstitious, I will not voice the date. But we are doing everything to launch it in summer. Whether it will be June or August I cannot say: construction in Ukrainian realities is a thing not always predictable,” he said in an interview with Interfax-Ukraine.
According to Stavnitser, from the point of view of construction itself, everything is proceeding well: the dredging has been completed, the filling of the pier with sand is being carried out, and then hydraulic engineering construction will begin.
As reported, Cargill (the United States), the Ukrainian Sea Ports Authority and MV Cargo LLC in August 2015 signed a tripartite memorandum of intent to implement an investment project in Yuzhny port. Its launch was scheduled for 2017.

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