12 January 2015

Ostchem has settled debt repayment issue with Gazprombank

PrintOSTCHEM’s press office informs that OSTCHEM holding and Gazprombank have rounded off negotiations concerning settlement of disputes on debt repayment of USD 842.5 million.

“All the disputes are settled, a constructive dialogue between two partners – the borrower and the bank – is completed. Gazprombank treated us with understanding of a difficult situation related to events in Ukraine. We reached mutually acceptable decisions giving no further details. OSTCHEM is grateful to Gazprombank for the trust and possibility of further cooperation”, Oleg Kikta, OSTCHEM’s First Deputy General Director, declared.

OSTCHEM’s press office emphasizes that as a result of the agreement, shareholding structure of all the OSTCHEM’s enterprises has not changed.

OSTCHEM confirms publicly that it will completely ensure fulfilment of all the contract obligations to Ukrainian and international clients. Not only market conditions but also launching Severodonetsk Azot Association, one of the largest OSTCHEM’s plants, promotes this process. We are sure that thanks to our enterprises Ukrainian agribusiness will be fully provided with nitrogen fertilizers in 2015. Even today facilities of Ukrainian enterprises produce several times more fertilizers than Ukrainian market is able to consume.

OSTCHEM, consolidating Group DF’s mineral fertilizer producers of Dmitry Firtash, remains steady, reliable, stable and promising business and the largest financial institutions still rely on it. Production and investment plans of the holding don’t change and OSTCHEM will invest about UAH 1 billion in its enterprises. The holding will continue increasing its capacities, implementing all up-to-date solutions of the chemical industry, becoming more competitive and intend to increase its share in the world nitrogen fertilizers market. OSTCHEM will keep being the largest commercial gas consumer and growing nitrogen fertilizer producer in the Eastern Europe. According to strategic plans, OSTCHEM intends to enter the international capital market.