Daily monitor

Nadra Bank has paid off a syndicated loan worth USD 130 mln on time, according to the bank`s press service. The syndicated loan was provided by BayernLB and Fortis Bank SA/NV. The credit was provided at a one-year rate of Libor + 1.5%. The initial amount of the loan was USD 100 mln, but the amount was subsequently increased during the term of its syndication.

Raiffeisen Bank Aval, which is the second-top Ukrainian bank by assets, has repaid a syndicated loan of USD 200 mln, according to a press release issued by the bank.

Kryukiv Railcar [KVBZ UZ, BUY] has announced that it intends to create a prototype passenger wagon with a double-lock braking system. It is hoped that the project will be completed by the beginning of 2009.

The Kernel Group [KER PW, N/R], a bulk oil and grain trader and one of the leading agricultural producers, released its financial results for the first quarter of the 2008/09marketing year. Key highlights: revenues increased by 4 times to USD 371.3 mln, EBITDA expanded by 3 times to USD 51.2 mln and net income jumped by 2.8 times to USD 23.2 mln.

On Thursday, November 13, the National Communication Regulation Commission (NCRC) announced it will start accepting applications from those companies wanting to purchase 3G mobile licenses in the UMTS standard in order to render 3G communications services.

Recently, the National Bank of Ukraine disclosed that, in the period October 1-November 1, private bank deposits in UAH (hryvnia) and foreign currency fell by 4.1% (or UAH 8.378 bln) from UAH 204.376 bln to UAH 195.997 bln. In particular during this period, private deposits in UAH fell by 9.8% (or UAH 12.396 bln) from UAH 126.686 bln to UAH 114.290 bln. Corporate deposits in UAH and foreign currency fell by 0.6% (or UAH 0.835 bln) from UAH 135.782 bln to UAH 134.947 bln.

According to an announcement by the State Statistics Committee of Ukraine, net FDI inflow to Ukraine in quarterly terms has slowed down to USD 1.17 bln, compared to USD 3.66 bln in 1Q08 and USD 3.55 bln in 2Q08, thus totaling USD 8.08 bln for the period January-September 2008.

Ukrnafta [UNAF UZ, BUY] will not sell oil at the auxiliary Ukrainian Auction 122-D, announced for November 18.

On November 14, the Astarta holding, a leading agricultural producer, released its consolidated financial results for 3Q08. The company’s revenues increased 30% YoY to USD 107.6 mln, EBITDA expanded 29% YoY to USD 43.8 mln and net income improved 8% YoY to USD 33.6 mln. All of the company’s key sale segments increased: +57% for crops, +28% for sugar, +32% for farm products.

The financial results for the first ten months of 2008 have been released for the Open Joint-Stock Company Balcem, a subsidiary of the Eurocement Group Ukraine. Its output was 2.587 mln metric tons of cement, compared to roughly 2.477 mln metric tons for the same period in 2007 – this represents a 104.4 % increase YoY. The volume of clinker production experienced 122% growth YoY, at 2.246 mln metric tons for January-October 2008, while it was roughly 1.848 mln metric tons for the same period in 2007.