InnovFin loan is a recognition of the innovative efforts of Astarta — Paraschiy

The InnovFin loan is a recognition of the innovative efforts of agro-industrial holding Astarta-Kiev, which has invested a lot in upgrading the efficiency of its sugar business and in green energy projects.

With its EUR 136 mln total debt as of end-September (comparable to its EUR 135 mln LTM EBITDA), Astarta is among the least leveraged companies in Ukrainian equity universe, states Alexander Paraschiy, Head of Research at Concorde Capital.

"Therefore, it's not surprising that European financial institutions are ready to provide the company cheap financing," he comments.

Reference: Astarta-Kiev and the European Investment Bank (EIB) in Brussels signed a loan agreement for EUR 37 million.