“Ukrzaliznytsya” has attracted a loan of “Ukrgasbank” in the amount of UAH 4 bn

"Укрзализныця" привлекла кредит "Укргазбанка" на сумму 4 млрд грн

PJSC “Ukrzaliznytsia” has signed a loan agreement with “Ukrgasbank”, which envisages financing of the company in the amount of UAH 4 bn. About it reported in a press-service of the company.

The press service noted that this loan is first borrowed funds since the inception of the company. “In the framework of “Ukrzaliznytsya” and “Ukrgasbank” finally settle the issue of restructuring of overdue financial debt, pre-established Railways of Ukraine, which assignee is the society to the Bank in the amount of about 520 million UAH”, – noted in UZ.

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“The implementation of the agreements of the management “Ukrzaliznytsi” and “Ukrgasbank” on the provision of financing became possible first of all after the government decree № 551 of 23.08.2016, which facilitated coordination mechanism of public authorities for borrowing “Ukrzaliznytsya”. The society initiated the extension of the regulations for 2017, and its positive effect is expected to extend to next year”, – stated in the message.

In the ULTRASONIC stressed that the loan is a step in the implementation of the restructuring program of local debt.

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“Borrowing is structured in the form of revolving credit line in national currency of Ukraine, in contrast to forward currency loans, which now make up the majority of the loan portfolio of the Society, will reduce the maintenance costs of such borrowing, to reduce currency risks and ensure a more effective use of the balance in the account,” the company said.

Earlier, the Cabinet allowed “Ukrzaliznytsia” to spend the capital investments before approval of the financial plan to 2017.