Oschadbank refinances Nibulon’s investments for more than $20 million
23.09.2024 - 14:48
Oschadbank on Nibulon agreed on new credit agreements to replenish the circulation of money for investments of the agricultural holding.
It is about working capital with which the bank refinances the volume of investments made by the company for a total amount of $20.3 million, Nibulon reported.
On September 17, the parties signed the first part of this credit program in the amount of $13 million.
The company explained that the restoration of financing marked a new stage in the development of Nibulon. After heavy losses and a difficult return to stability (including through restructuring), the company is now able to gain momentum.
“Nibulon” will use the received funds to restore working capital after investing in the construction of a new transshipment terminal on the Danube. The “Bessarabska” branch began work in 2022 and became the main route for the export of agricultural products, which was very important in the conditions of Russia’s blockade of Ukraine’s sea ports.
Thus, the replenishment of working capital, in particular, guarantees the ability of the agricultural holding to provide in full the procurement campaign of the 2024/25 season.
Previously, USM reported that the Ukrainian bank restructured the loan to Nibulon for $10 million.
