Information for fruit and vegetables business in CIS
John Deer Credit Int. grants a $7.5-mln. credit line to a Ukrainian bank for funding US farm equipment purchases
US company John Deer Credit Int. is reported to have opened a 5-year credit line for the worth of over $7.5 million to Kiev-based commercial bank "Nadra" for funding supplies of agricultural equipment to Ukraine. A spokesman for "Nadra" said on Monday the guarantor for the loan was Export-Import Bank of the United States, Interfax-Ukraine news agency informed.
"Bank "Nadra" signed a three-side agreement with government-controlled Export-Import Bank of the United States and John Deer Credit Int. about granting a credit line for the worth of more than $7.5 million and for the term of up to 5 years", the bank's release has stated.
The bank's officials said the funds of credit line were going to be directed to payments for supplies of American commodities to Ukraine (primarily, agricultural equipment of John Deer production) and compensation of certain overheads, arising in imports of the equipment onto the territory of Ukraine.
Bank "Nadra" is reported to have been established in 1993 and to rank among the ten top Ukrainian banks. According to the National Bank of Ukraine's data, by the start of this year the bank had been assessed ninth largest in Ukraine in the size of total assets.