16 Oct 2009 19:16

Ukrainian Pivdennyi raising $14 mln subordinated loan from KfW

KYIV. Oct 16 (Interfax) - Ukraine's Pivdennyi bank plans to raise a $14-million loan from German KfW on subordinated debt terms, the Ukrainian bank said in a statement.

"The signing ceremony on raising funds on subordinated debt terms between Pivdennyi and German state bank KfW Entwicklungsbank will be signed in Odesa on October 20," the statement says.

The loan is for seven years.

Pivdennyi, founded in 1993, was the 108th biggest CIS bank and the 21st biggest of 182 Ukrainian banks listed on the Interfax-1000: CIS Banks rankings as of the end of 2008.