Ufaorgsintez will grant Bashneft a loan amounting to 8 billion rubles

UFA, 6 July 2016. /Bashinform News Agency, Olesya Seregina/. On July 4, the Board of Directors of PJSC "Ufaorgsintez" approved a major deal to provide a loan of 8 billion rubles to PJSOC "Bashneft", the issuer reports.

According to the deal, the contract is concluded for three years with an annual automatic renewal, the interest is charged at a rate equal to multiplication of the key rate of the Central Bank of the Russian Federation and the coefficient of 0.76.

In late March Bashneft completed the acquisition of 21 505 680 common shares (19.04 percent of the authorized capital) of PJSC "Ufaorgsintez". They were purchased from ZAO "Sistema-Invest" for 3.55 billion rubles. As a result of the transaction, the Bashneft group consolidated 100 percent of the voting shares of PJSC "Ufaorgsintez".

PJSC "Ufaorgsintez" is one of the largest Russian enterprises for production of organic synthesis products, plastics. The authorized capital amounts to 112.9 million rubles. In 2015, "Ufaorgsintez" increased net profit compared to the year 2014 by 2.6 times - to 6.22 billion rubles, while the company's revenue increased by 15.8 percent and amounted to 32.31 billion rubles.