Standard Bank Plc has been awarded the mandate to arrange the debut trade-related term loan facility for Ukrgasbank, Ukraine. Ukrgasbank is the 18th largest bank in the Ukraine in terms of total assets and the 13th largest in terms of deposits. The borrower is rated ‘B2’ by Moody’s.


The facility carries a margin of 3.10% per year above Libor and will be used to finance specific export/import contracts of the borrower’s strategic clients.


As at September 2006, Ukrgasbank had total assets of US$680mn, customer deposits of US$399mn, customer loans of US$331mn and shareholders “equity of US$52mn. Its capital adequacy ratio currently stands at 10.3%.


Since its creation in 1993, the bank has undergone rapid expansion, both through internal growth and acquisitions (Service Bank, Ukrnaftogasbank, Narodniy Bank). Passing successively from the status of a niche bank in 1993 (servicing a limited number of corporate clients) to an industry bank in 1997-99 (working closely with Ukraine’s oil and gas industry) and, then, to a corporate bank in 2001-02 (with a diversified corporate client base), the bank today operates as a universal bank, targeting the rapidly developing retail segment.


Ukrgasbank has a strong client base with about 14,000 corporate clients and 54,000 active retail clients (excluding 235,000 payment card customers) offering them the full range of services, including but not limited to origination of loans and guarantees, acceptance of savings and deposits, settlement and card products, documentary and treasury operations.