Chernomornaftogaz borrows $58 mln from Kyiv Sberbank
KYIV. Nov 19 (Interfax) - Ukrainian Black Sea area hydrocarbons developer Chernomornaftogaz has arranged one-year local and foreign-currency loans totaling UAH465 million ($58 million) with the Kyiv-based subsidiary of Russia's Sberbank to replenish working capital, the company said in a filing posted on the state procurement website.
The loans include UAH189.7 million at 40% pa and $6.93 million at 11.5% plus 0.25% commission (UAH7.993/$1 on Nov. 19).
The company tried but failed to raise four one-year credit facilities of UAH100 million each at the beginning of November.
Chernomornaftogaz, which is controlled by Naftogaz Ukrainy, develops the Ukrainian sectors of the Black Sea and Sea of Azov shelves. It also produces hydrocarbons at fields in the Crimea, in addition to operating the Glebovskoye underground gas storage facility and trunk gas pipelines located on the peninsula.
