Daily monitor

Mriya Agro Holding [MAYA GR, BUY] has received a USD 25 mln loan from the EBRD. According to the Company data, these funds will provide financing for inputs needed for agricultural production as well as for crops stored at certified warehouses. With the help of the EBRD loan, Mriya Agro Holding will continue with the sustainable growth of its operations, ensuring market expansion and competition by bringing new land into production and increasing crop yields.

Official reports indicate that Ukrsotsbank and Raiffeisen Aval posted net incomes in 2010 (USD 3.6 mln and USD 0.1 mln, respectively), whereas Forum bank posted a net loss (USD 410 mln).

According to the agency iKS-Consulting, in December, the number of mobile subscribers of Ukrtelecom increased by 5.5% or by 33.1 thsd to 631.1 thsd. In comparison with December 2009, the number of subscribers increased by 55.2% YoY or 224.4 thsd.

According to the NBU, in 2010 the net loss of Ukrainian banks amounted to UAH 13.2 bln. Revenues of banks amounted to UAH 136.85 bln, charges – 149.87 billion USD.

Turboatom [TATM UK] has handed over equipment with an overall volume of USD 2mln to Starobeshivska HPP, a member of Donbassenergo [DOEN UK], within the frames of a contract on generating plant block №5 modernization.

Astarta [AST PW, U/R] has launched a new modern feed factory in the Poltava region, with a capacity of 240 tons of feed per day. The Company has renovated the factory and has installed both foreign and Ukrainian equipment. According to the Company’s data, the factory will produce animal feed for milking and dry cows, as well as for calves. An improvement in feed quality should result in a 20% increase in milk yields. The Company aims to increase milk output by 15%, to 60 thsd tons in 2011.

The Cabinet of Ministers has intentions to increase the volume of quotas by 2.7 mln tonnes of grains to 6.9 mln tonnes. Quotas for export are expected to be increased by 1.7 mln tonnes for corn and by 1 mln tonnes for wheat. They also have intentions to lift grain export quotas in April.

The largest Ukrainian mining and metallurgical holding Metinvest announced a share buyout of Mariupol ISW [MMKI UK, U/R], which will take place on the Ukrainian Stock Exchange from 7 February to 18 February 2011. The announced redemption price is 0.8756 UAH per share.

In 2010 Ukrnafta [UNAF UK] has shortened sales of oil and gas condensate by 17.8% YoY to 2.2 mln tons. Liquified gas condensate sales lost 12.4% to 158 thsd tons, light distillate – 31.6% to 174 thsd tons. Oil extraction fell by 12.2% to 2.2 mln tons, gas condensate extraction declined by 12.4% to 270 thsd tons. Liquified gas production lost 11.6% falling to 160.5 thsd tons, light distillate output decreased by 25.4% to 190 thsd tons.

Metinvest Holding, the largest Ukrainian metallurgic company, has announced plans to issue 7-10 year Eurobonds with an overall volume of USD 500 mln. The road show is to start on January 25th. Bond issue was organized by Credit Suisse, Deutsche Bank, ING, RBS, and VTB Capital. Fitch has set a preliminary B rating for the bonds.