Oshchadbank issues a loan worth USD 60 million to Astarta

Oshchadbank concluded a loan agreement with Astarta agro-industrial holding to finance an investment project for the construction of a plant for advanced soybean processing.

This follows from a statement by the bank, the Ukrainian News agency reports.

The total amount of the credit limit is USD 60 million.

The loan term is seven years.

No other details have been provided.

As the Ukrainian News agency earlier reported, 100% of the shares of Oshchadbank are owned by the state.

Astarta cultivates about 220,000 hectares in seven regions, has six sugar factories, dairy farms for 22,000 cows, and a bioenergy complex in Hlobyno, Poltava Region, which forms an industrial cycle with a sugar factory and a soybean processing plant.

40% of the holding company Astarta Holding N.V. is controlled by Viktor Ivanchyk through Cypriot Albacon Ventures Limited and 29.9% by Canadian Fairfax Financial Holdings Ltd.