Sadovaya Group secures USD 25 million loan

Sadovaya Group (“the Group”) is pleased to announce that it has secured a new loan facility of USD 25 million (“the Loan”) from JSC OTP Bank (Ukraine).

The Group entered into loan agreement with OTP Bank through its subsidiaries Sadovaya mine and Rassvet-1 mine.

On December, 16th the Group successfully received the first disbursement of USD 18 million.

The disbursement was used for repayment of existing short-term loan facilities with PJSC Credit Dnepr Bank.
CFS Advisors acted as a sole advisor to Sadovaya Group on attraction of debt financing from JSC OTP Bank (Ukraine).

Aleksander Tolstoukhov, founder and co-owner of Sadovaya Group, said:
“We are happy to start cooperation with OTP Bank, one of the most solid corporate banking institutions in Ukraine. I am confident that this project will lay a foundation for successful long-term relations between our companies.
Completion of this deal in spite of current tough environment on the financial markets demonstrates positive assessment of the immense work that we have done in the last two years and continued investor confidence in our business”.

For further information, please contact:
Alex Dubyna, IR Manager of Sadovaya Group (+38 044 373 68 21)

Notes to Editors.
Sadovaya Group SA is a Ukraine-based holding company, incorporated in Luxembourg, whose operations are focused on coal mining activities. The Group’s diversified mining and related operations are divided into four main segments: coal mining, extraction of coal from waste deposits, coal enrichment and coal trading. The Group owns and operates two full-cycle underground mine complexes, as well as coal waste dumps and tailings ponds. All of the Group’s production facilities are located in Ukraine’s heavily industrial Donbas Region.

Sadovaya Group listed 25% of shares on Warsaw Stock Exchange in December 2010 and attracted more than USD 30 mln. For 9M 2011 the Group’s revenues was USD 62.4 mln. For the 10M2011 the Group sold more than 1mmt of coal, including 370,000 t of coal mined at own mines.

On 16 December 2011, Group’s market capitalization was 368 mln PLN.