Financed ProjectsGalnaftogas I

Identification Code:

OP/03/0420

Total Operation Cost:

0

Maturity:

84 months

Operation Status:

Description and Purpose of the Operation:

BSTDB extended a US$23 million corporate loan to Galnaftogaz. Established in 1995, Galnaftogaz is a Ukrainian light-petroleum distribution company. The BSTDB financing will support the company's investment program, which includes network expansion and modernization of existing gas filling stations (GFS) in Ukraine. The total cost of the operation is expected to be up to US$93 million and will come from bank loans, bond and equity issue, and own sources retained from operations. The operation is expected to have a solid regional cooperation effect from servicing regional transportation flows running through Ukraine. BSTDB's loan is for a tenor of 7 years.

Countries of Operation:

Ukraine (100,00 %)

Financial Product:

Loans

Sector:

Consumer Discretionary

Domain:

Private

Borrower/Client:

JSC Galnaftogaz

Co-Financiers/Participants:

EBRD, IFC

Guarantors/Sponsors:

Developmental and Regional Cooperation Impact:

The operation is expected to have a solid regional cooperation effect from servicing regional transportation flows running through Ukraine. The proceeds of the loan will facilitate modernization of the Company's network according to European standards, reduction of harmful emissions and diversification of distribution sources in the local market

Environmental Classification and Impact (summary):

The Project is in compliance with the Bank’s Environmental Policy.

Operation Leader:

Energy & Infrastructure

E-mail:

ei@bstdb.org