Nadra Bank will open a Hr 735.241 million credit line to the Inter TV channel (both based in Kyiv), reads a report in the information disclosure system of the National Commission for Securities and the Stock Market.
The report says that the agreement on the opening of the credit line of 24 months was signed on January 30, 2013.
The interest rate is 11% per annum.
The report says that the credit line is opened to replenish working capital of the channel and perform other payments linked to the operation process.
The largest shareholder in Nadra Bank is Centragas Holding AG (89.9659%) affiliated with Group DF, which belongs to Dmytro Firtash.
As reported on February 1, 2013, that K.H. Media Limited, owned by former First Deputy Prime Minister of Ukraine Valeriy Khoroshkovsky, has sold its 100% stake in Inter Media Group Limited for $2.5 billion to GDF Media Limited company, owned by Firtash.
On February 7, 2012, it was reported that the new shareholders of Inter Media Group Limited, uniting Inter TV Channel and up to ten other channels, will be the companies owned by businessman Dmytro Firtash and Head of the Presidential Administration of Ukraine Serhiy Liovochkin.
Inter Media Group includes the TV channels of Inter, Inter+, NTN, K1, K2, Enter, Enter-Film, Mega, MTV Ukraine, and other production and marketing companies.
Inter TV Channel is the most popular channel (with a share of 14-16% over the recent months.) Its net income in 2011 increased by 30.9%, to Hr 744.77 million, almost returning to the level of the pre-crisis year of 2008. Its net loss last year fell by 29.5%, to Hr 137.63 million.
In the first half of 2012, the TV channel saw net income of Hr 446.840 million and a net loss of UAH 95.34 million.
Bank Nadra was founded in 1993. As of October 1, 2012 the bank ranked 12th out of the 175 operating banks in Ukraine in terms of overall assets (Hr 24.308 billion), according to the National Bank of Ukraine.
