Daily monitor

According to Ukrgazbank’s [UZGB UZ, U/R] press service, all participants in its syndicated loan have reached a preliminary agreement and signed a term sheet about the restructuring of UZGB’s USD 23 mln syndicated loan.

Western Ukraine’ agricultural companies Dakor and Land West are considering a merger, with the resulting shares placed on the Warsaw Stock Exchange.

On July 28, Megabank and IFC signed an agreement on providing Megabank with two loans for a total sum of USD 20 mln.

Sumy Frunze Machine Building’s [SMASH UZ, N/R] order book increased by 50% YtD to USD 720 mln, according to information from a company press release. Given this size of the order book, deliveries in 2009 will equal USD 120 mln.

According to Acting Minister of Finance Igor Umansky, Ukraine will fulfil all of its obligations and will redeem Eurobonds totaling CHF 768 mln (USD 719 mln) on 15 September 2009.

Motor Sich [MSICH UZ, BUY], a large aviation engine producer in Ukraine, signed a new contract with Egypt to supply six An-74.

Motor Sich [MSICH UZ, BUY], a large aviation engine producer in Ukraine, will supply model D-436-148 engines for 50 An-148s which will be produced in Iran.

The Cabinet of Ministers passed resolution #764 instructing the Ministry of Finance to restructure Naftogaz`s foreign debt and to decrease the costs of servicing its loans via refinancing.

Alfa-Bank Ukraine reached final agreements with bondholders of three issues (with maturity at 2009, 2010, 2011) about restructuring the debt.

The IMF Board of Directors approved the provision of the third tranche of the standby loan for Ukraine; the tranche amounts to the USD 3.3 bln. The IMF has announced that the cooperation program amendments, specifically the maximum permissible budget deficit volume, have been approved.