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WOG successfully restructured its loans at PUMB and UkrExImBank Corporate News

WOG group of companies has successfully restructured its loans as a part of its strategy. In particular, as of today, the company has reported restructuring of credit portfolio for the term of 10 years at the First Ukrainian International Bank (PUMB) and for the term of 15 years at the State Export-Import Bank of Ukraine (UkrExImBank). WOG press service stressed that the loan was taken out at PUMB before the crisis events of 2013-2014.

“In the course of negotiations with the bank we have jointly developed a solution to restructure the debt for the term of 10 years, which fully meets our initial expectations. As of today, the rate proposed by the bank corresponds to the market level and could be reduced in the future if the investment climate in Ukraine improves, which is certainly beneficial not only for us, as the company, but also for the bank as the lender,” WOG said in a statement.

The company also participated in the NBU's program for borrowers’ restructuring, which was launched due to hryvnia devaluation processes in the country, thus succeeding in restructuring its credit portfolio at the State Export-Import Bank of Ukraine (UkrExImBank).

“We took out several loans in different currencies over the period of 2008-2013 for active expansion in the oil product market and development of fuel retail. After lengthy work on restructuring this portfolio, we succeeded in developing a convenient repayment schedule that is suitable for both parties. More specifically, it will allow the company to repay the loan and continue to develop,” WOG stated.

Restructuring of the aforementioned loans will allow the company to continue investing in development and to repay its liabilities to the banks within the specified timeframe.

In the nearest future, WOG is planning to actively develop its retail business and also invest in new and operating gas stations and opening new cafes of city format.

As a reminder, earlier WOG successfully opened WOG CAFEs at Kyiv Sikorsky Airport and Boryspil International Airport. Another cafe of the chain is soon expected to open at Danylo Halytskyi International Airport Lviv.

Over the 15 years of working in Ukraine, WOG has learned a reputation of the leader not only in the fuel market, but also in food retail, offering its products at hundreds gas filling stations across Ukraine, on 16 high-speed Intercity trains and also in the chain of city coffee shops in Kyiv and Lviv. The cafes offer a wide range of products – from a wide selection of coffee beverages to a line of own-produced fresh sandwiches and salads. The entire chain has a quality control system to guarantee food safety.

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