Private joint-stock company Galychyna (Radekhiv, Lviv region), a large Ukrainian producer of dairy products, has taken two credit lines from Ukreximbank (Kyiv) totally worth Hr 232 million, reads a company report in the information disclosure system of the National Commission for Securities and the Stock Market.

The report says that the credit agreement was signed on March 20, 2013.

Ukreximbank opened a Hr 201 million multi-currency non-renewable credit line at 20% per annum in hryvnias and at 11% per annum in the U.S. dollars for the period of 60 months. The bank also opened a renewable credit line of Hr 31 million for one year at 20% per annum.

The report says that the borrowed funds will be used to refinance current debts to VTB Bank worth Hr 71 million and $11.875 million, buy bonds worth Hr 35.176 million and replenish working capital by Hr 31 million.

Galychyna was founded in 1998. It produces dairy foods under the Galychyna, Moi Korovky, and Molochna Rodyna brands.

In 2011, the company saw Hr 19 million in net profit, which is 19.2% down on 2010. Its net revenue rose by 29.8%, to Hr 888.4 million.



KyivPost