EBRD gives USD 80 mln subordinated loan to Forum
21 July 2009
The European Bank for Reconstruction and Development announced in a release yesterday that it is providing Bank Forum (FORM) with a USD 80 mln ten-year subordinated loan as part of its ongoing support to the Ukrainian banking sector. Loan proceeds will be directed to supporting the bank’s capital base. The EBRD’s program to assist the Ukrainian banking sector envisions over EUR 500 mln in investments to recapitalize the system by the end of 2009. Andrii Parkhomenko: In early June the EBRD announced this Forum loan and a USD 100 mln subordinated loan to Ukrsibbank. These two new loans, together with already granted subordinated debt, will bring the organization’s total investment into the Ukrainian banking system to USD 530 mln. Earlier this year, the EBRD granted subordinated loans to Ukreximbank (USD 250 mln) and Ukrsotsbank (USCB, USD 100 mln) and announced it was considering a EUR 25 mln equity investment in Megabank (MEGA).
