EBRD to give NIBULON another $200 Ml
2012-08-03 10:42:36
The European Bank for Reconstruction and Development (EBRD) will grant a $200 Ml syndicated loan to Mykolaiv-based LLC Nibulon, a major Ukrainian producer and exporter of cereals and oilseeds. The EBRD representation in Ukraine said the Bank’s Board of Directors decided this on July 24. The Bank previously announced an intention to finance Nibulon for restructuring its balance in order to finance the company’s permanent working capital and trading operations. Nibulon’s total needs for these purposes were estimated at some $486.5 Ml. Please remember that the International Finance Corporation (IFC) also intended to grant a loan ($50 Ml) to Nibulon. This money will be spent on credit refinancing and the implementation of an investment program. Founded in 1991, LLC JV Nibulon is a major player in the country’s grain market. The company has grain storage facilities with a total capacity of 1.6 MMT and an own grain-handling terminal in Mykolaiv. Since 2009, Nibulon has been implementing a project to launch a total of 17 elevators and river terminals and create a fleet of 57 self-propelled and non-self-propelled vessels (including 14 tugboats) with a total deadweight of 200 KMT.