Daily monitor

Raiffeisen Bank Aval [BAVL UZ, U/R], ranked second in Ukraine by assets, has redeemed a USD 250 mln of an overall USD 500 mln syndicated loan. The loan was attracted in April 2007 for a period of two years at LIBOR +1.2%. The participants in this loan consisted of 42 banks.

According to the bank’s statement, Ukrsibbank, which is ranked fourth in Ukraine by assets, decided to raise its statutory fund by UAH 1.275 bln to UAH 5.280 bln, through an additional share issue of 25.5 bln shares with a par value of 0.05 each. The subscription is scheduled for April 9-27, 2009.

According to a recent note from the State Statistics Committee of Ukraine, the merchandise balance deficit in 2008 has slipped to USD 18.53 bln, which is 63.7% higher than the USD 11.32 bln 2007 merchandise deficit.

An EGM of Ukrnafta [UNAF UZ, BUY], which was scheduled for today, did not take place because of the absence of the shareholders’ registry.

The Zaporizhya-based Motor Sich [MSICH UZ, BUY] company – the largest producer of aviation jets and gas-turbine units in the CIS – has announced its intention to supply of helicopter engines to Indian forces by the end of 2014.

The Zaporizhya Car Assembly plant (ZAZ) – the largest producer of cars in Ukraine – issued a statement noting that it recorded losses of UAH 390.576 mln for 2008, according to the Ukrainian News agency.

The Kyiv-based OJSC Mostobud [MTBD UZ, U/R], Ukraine's largest bridge construction company and the general contractor in a project to build a massive bridge in Zaporizhya across the Dnieper River, is in talks with the U.S. Sunland Group Corporation regarding the acquisition of a loan to enable the company to complete its existing construction projects.

In several official filings submitted with the regulator in January-February, Zaporizhstal [ZPST UZ, U/R] reported changes in its shareholder structure. Several developments are as follows.

The Kharkiv-based OJSC Turboatom [TATM UZ, HOLD] – the largest turbine manufacturer in Ukraine and one of the largest energy equipment producers in the world – has announced that its net profit for 2008 grew by 19.7% YoY to UAH 41.8 mln.

The National Bank of Ukraine (NBU) has taken Nadra Bank, ranked 9th in Ukraine by assets, under temporary administration.