Sadovaya Group secures USD 25 million loan

Sadovaya Group (“the Group”) is pleased to announce that it has secured a new loan facility of USD 25 million (“the Loan”) from JSC OTP Bank (Ukraine). The Group entered into loan agreement with OTP Bank through its subsidiaries Sadovaya mine and Rassvet-1 mine.

On December, 16th the Group successfully received the first disbursement of USD 18 million. The disbursement was used for repayment of existing short-term loan facilities with PJSC “Credit Dnepr Bank”.

CFS Advisors acted as sole advisor to Sadovaya Group on attraction of debt financing from JSC OTP Bank (Ukraine).
Aleksander Tolstoukhov, founder and co-owner of Sadovaya Group, said:
“We are happy to start cooperation with OTP Bank, one of the most solid corporate banking institutions in Ukraine. I am confident that this project will lay a foundation for successful long-term relations between our companies.
Completion of this deal in spite of current tough environment on the financial markets demonstrates positive assessment of the immense work that we have done in the last two years and continued investor confidence in our business”.

For further information, please contact:
Alex Dubyna, IR Manager of Sadovaya Group (+38 044 373 68 21)