OREANDA-NEWS. On 31 March 2009 was announced, that Megabank < MEGA UZ U/R > provided UAH 29.5mn to Kharkiv Avtotransport Enterprise 16330. The loan is provided for one year at 29% interest rate. Note that on 23 March MEGA provided a loan of UAH 40bn to Avtramat, located in Kharkiv Region.

Millennium Capital sees the news to be NEGATIVE for MEGA, since, considering its latest announcements on the need in the additional capital increase (UAH 150mn), so significant amount of loans seem about the capital outflow form the bank and its liquidity deterioration. In contrast, the news may have positive effect on MEGA’s performance if it either successfully increase its share capital by 75% (UAH 150mn) on 31 March or receive the EBRD financing, which was rumored recently.

Millennium Capital is an integrated financial services provider. Established in 2000 by a group of professionals with solid background in securities and corporate finance, Millennium Capital is now one of the major investment banking institutions.