Daily monitor

Ukrsotsbank [USCB UZ, U/R], one of Ukraine’s largest banks, has successfully repaid a loan for UAH 420 mln to the National Bank of Ukraine. According to its press service, the Bank proceeded to repay several large tranches of the respective loan ahead of schedule.

According to information from the State Statistics Committee of Ukraine, consumer prices increased by 1.1% in November 2009. In January-November, the inflation rate was 11.3%. In the same period in 2008, inflation was an incredible 19.8%. Over 2008 on the whole, consumer prices rose by an astounding 22.3%. The government expects inflation to be 9.5% in 2009.

The management of the Dakor Agro Holding [DAKOR UZ] announced that it has detected a mathematical error in the previously announced conversion ratios of Dakorwest shares and LandWest/Kremney GDRs into shares of DAH. The recalculated ratio represents a 80/20 contribution of DakorWest/LandWest into the united holding. As a result, each share of DakorWest is convertible into 0.757188 shares of DAH (instead of the previously announced 0.811009) and each LandWest/Kremney GDR is convertible into 0.0804476 shares of DAH (instead of 0.063576).

The world’s largest producer of turbines has successfully delivered equipment to the Russian Egorlinskaya Hydro Power Plant-2. Currently, the Company is engaged in the manufacture of additional equipment for the modernization of the remainder of the HPP’s aggregates.

According to the UkrAutoprom association, automobile output in November declined by 80.1% YoY to just 3.2 thsd units. The MoM decline was at 36.9%, as 5.1 thsd cars were produced in October.

Turboatom [TATM UZ, U/R] has successfully fulfilled the delivery of equipment to DTEK’s Vostokenergo for use in the modernization of power unit #7 at the Kurahovksa TPP. Currently, Turboatom engineers are engaged in the assembly of the equipment at the TPP.

The Ministry of Communications has estimated that Ukraine needs 1400 buses for transporting passengers during the course of the EURO-2012 football championship. According to the Deputy Minister of Communication, there exists a need for 850 large-capacity buses and 350 mid-capacity buses.

The First Ukrainian International Bank (FUIB) has offered bondholders the schedule for the restructuring of USD 275 mln worth of Eurobonds from this issuer. The main conditions of the announced terms include the postponement of the period for the Eurobonds’ redemption from February 16, 2010 to December 31, 2014 and an increase in the coupon rate from 9.75% to 11%. The proposal should be discussed at the shareholders’ meeting in London on December 15, 2009.

The Standard & Poor’s international rating agency has reported on the results of a study on information transparency of the 30 largest Ukrainian banks. As a result, the index of information transparency of banks in Ukraine has grown from 45 to 49% since 2008.

According to information from the NBU, the forecast of key macroeconomic indicators for 2010 components of GDP to 3-4%, under conditions agreed actions of the Government and the NBU expected inflation less than 10%.