Ukrgazbank To Increase Share Capital By 25%

Ukrgazbank (UGZB: BUY) announced yesterday that it would increase it share capital by 25% by issuing 100 mln shares at a par value of USD 0.198. The increase will bring the bank’s share capital USD 100 mln.  The issue will be on the agenda of the bank’s AGM on June 12. Subscription is scheduled from September 3 through September 28. In related news, the bank also announced that it had attracted a USD 46 mln two-year syndicated loan at LIBOR+2.7%. Standard Bank and West LB acted as lead managers of the deal. Ukrgazbank is Ukraine’s 17th largest bank in terms of assets.