TKS Management Considers Options for USD 11 mln Loan

According to TKS Management (37W1 GR: BUY), it has received several offers to provide it with a USD 11 loan to help finance commercial and residential real estate projects. TKS said that it could receive USD 11 mln from OTP Bank, or a loan for that amount from three different Ukrainian banks: Universal Bank, VAB Bank and Index Bank. TKS Finance Director Ruslan Eynes said the interest rate would be not more than 11%. According to him, the loans would be granted for between five and ten years. Alexander Romanov: The fact that several banks proposed to offer credit lines to the company signals their confidence in the feasibility of TKS’ portfolio. In January, the company’s management’s announced that its investment plans for 2008 would require USD 120 mln in financing, out of which 100 mln would come from external sources.