Rus News Journal

UkrGaz - Energo has obtained the credit on beneficial terms

As writes today joint venture NAK Naftogaz Ukraine and RosUkrEnergo - UkrGaz - Energo has obtained the credit rajffajzenbank Ukraine and rajffajzen Bank Aval at a rate of $110 million under rate Libor+3,05 of %. It is remarkable that itself Naftogaz obtains credits for much less favourable conditions - Libor+5 %. Experts consider that unequal credit conditions will lead to the further loss of control NAK over the Ukrainian market of gas.
in statement UGE it is told: the Company uses the involved means only for purchase of natural gas for the purpose of its accumulation in underground storehouses of gas of Ukraine and delivery to the consumers during a cold season 2006 and 2007 .

It is remarkable that the rate on which UGE has obtained the credit, much more low, than that on which today involves credits NAK Naftogaz Ukraine . We will remind that earlier NAK has involved $60 million proceeds of credit of Open Society Alpha bank under Libor+5 % (see from June, 8th). In NAK yesterday comments have refused. And in a press - to Ministry service have declared: it is valid, strange, why the powerful state company involves proceeds of credit which are much more expensive, than at it ' daughters ' .

Experts consider that the difference at a rate of the interest rate is connected with the big accounts payable NAK and decrease in its credit rating. last year for ' Naftogaza ' was very heavy. The companies some times lowered a credit rating, and at NAK the debt to banks and for gas constantly grew, - the analyst of investment company ' marks; the Alpha - the Capital ' Vladimir Dinul. - From here and percent on the credits, reaching 10,6 annual interest rates .