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PJSC Creative, Ukraine signs a US$300,000,000 Syndicated Commodity Facility

13.09.2013

We are pleased to announce that PJSC Creative, Ukraine (the "Company") has signed a US$300,000,000 Syndicated Commodity Facility (the "Facility") which was solely led and arranged by UniCredit as Coordinating Mandated Lead Arranger and Bookrunner. The syndication of the Facility has been very successful and closed significantly oversubscribed even at increased level.

The Facility is the extension and increase of the existing US$255,000,000 Pre-Export Financing Syndicated Facility which was successfully closed in 2012.

The financing structured as a dual tranche short-term, annually extendable financing by commodities, export and sales contracts. The proceeds will be used to finance the Company’s sunflower seed purchases, their storage period and their processing period until the seeds have been processed into the commodities, which are to be sold predominantly to export markets under the export contracts, but also domestically.

Lenders under the Facility are PJSC "Ukrsotsbank" (a member of UniCredit) as Coordinating Mandated Lead Arranger and Bookrunner; VTB Capital plc, Erste Group Bank AG and ING Bank N.V. as Mandated Lead Arranger; Societe Generale and Amsterdam Trade Bank N.V. as Lead Arranger; Credit Europe Bank N.V. and Intesa Sanpaolo S.P.A. as Arranger.

UniCredit Bank AG acts as Facility and International Security Agent, PJSC Ukrsotsbank is Local Security Agent and Local Account Bank and UniCredit Bank Austria AG acts as the International Account Bank.

Kyiv and London offices of the international law firm Dentons acted as legal advisors to the Lenders and provided full legal support under this transaction.

Comment from Yuri Davidov, CEO of Creative Group: "This year PFX extension transaction became very successful, even more successful than last year PFX was awarded as a "Deal of the Year" by reputable Trade Finance Magazine. Creative Group is thankful to existing lenders in the syndicate for their continuous support of the business of the Group and to newly joined lenders for their trust in the company".

 

NOTE

Ukrsotsbank is one of the largest universal banks of Ukraine, operating in the local market since 1990. The bank offers full range of services to individuals and corporate clients.

The renovated Ukrsotsbank emerged on 31 October 2016 as a result of strategic deal whereby 99.9% of Ukrsotsbank shares have been transferred from UniCredit Group to ABH Holdings S.A. (АВНН) in exchange for a minority 9.9% stake in ABHH. Thus, the bank has combined 26-year-old traditions of Ukrsotsbank’s client-centric attitude, European quality of service inherent to UniCredit, as well as international banking expertise of ABHH in a number of European countries including CIS. Thanks to the successful synthesis and synergy of the two assets of ABHH in Ukraine, Ukrsotsbank and Alfa-Bank, the banking market of Ukraine will see the rise of a new stronger financial institution. This, in turn, will spur up technological advance, increase efficiency, improve quality of service for the clients, reduce cost of banking services whereas their range will inevitably expand.

The extensive retail network of Ukrsotsbank consists of 237 branches, its headcount reaching nearly 5 thousand employees.


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