Тelevision and Radio company "Ukraine" CJSC according to the concluded agreement with System Capital Management Limited /SCM, Cyprus/ on a 2 years loan of USD 65 million, on 30 April 2008 received the second tranche of USD 3 million. This is informed in the TRC "Ukraine" report

The received tranche constitutes 4.58 % of the total loan amount.

 

The interest rate for this loan is 10 % per annum.  Loan payment date is 18 February 2010.

 

Under this loan agreement TRC "Ukraine" had already received the first loan tranche of USD 8.8 million.

 

The involved funds will be directed to technical equipment modernization, to purchasing high-quality television content and creating their own production, as well as to creating a television group on the basis of TRC "Ukraine".

 

 

System Capital Management Limited /SCM/ is a major management company in Ukraine which owns and monitors the assets  in mining and smelting, energy, telecommunication, banking, insurance, mass media, retail and other branches and spheres of the economy.

 

90 % of shares of SCM Limited belong to businessman Rinat Akhmetov.

 

Тelevision and Radio company "Ukraine" CJSC is one of major national television channels /the sixth place, according to "GFK-Ukraine/. The main shareholder of TRC "Ukraine" is System Capital Management company /99.67 % of shares/. As of the end of 2007 net assets of the channel amounted to USD 83.47 million /approx. USD 19 million/.

 

Source: bit.prime-tass.ru