Ukrgazbank Eyes Attraction of USD 40-45 mln Syndicated Loan

Ukrgazbank (UGZB: HOLD) could attract a USD 40 or 45 mln syndicated loan in May-June 2008, bank CEO Vadym Lyashko told Interfax yesterday. In December 2007, the bank attracted a USD 20 mln syndicated loan; and in June 2007, it drew a USD 46 mln subordinated loan at LIBOR+2.7%. According to Lyashko, the bank is additionally considering long-term borrowing instruments that would give investors an option to acquire a stake the bank’s capital. On Friday, Ukrgazbank shareholders approved the results of a USD 30 mln additional share issue to raise capital.