Astarta to receive USD 25 mln loan from Dutch development fund

2017/7/21 0:47:22

Analyst: “Astarta remains one of the least leveraged companies in the Ukrainian investment universe, with end-1Q17 debt of EUR 115 mln and a net debt-to-LTM EBITDA ratio of 0.5x. All this allows us to maintain a positive view on Astarta stock.”


 

 

 

 

 

 

 

 

 

 

 

KYIV, July 21, 2017 - Ukrainian farmer and leading sugar producer Astarta (AST PW) will receive a USD 25 mln loan from Dutch development fund FMO, Concorde Capital informed clients, based on a July 19 release. The funds are going to be used for the modernization of the company’s sugar plants and the construction of a wastewater treatment plant. The loan is the third facility provided by FMO since 2008, the company reported.

 

Concorde analyst Alexander Paraschiy added: “With further investment into sugar production, Astarta will further secure its position as one of the most cost-efficient producers on the domestic sugar market. Investing in the environment will enhance the company’s image for corporate responsibility, paving the way for further cheap international financing.

 

“Meanwhile, Astarta remains one of the least leveraged companies in the Ukrainian investment universe, with end-1Q17 debt of EUR 115 mln and a net debt-to-LTM EBITDA ratio of 0.5x. All this allows us to maintain a positive view on Astarta stock.”

 

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For more information, link here: www.concorde.ua 

 

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