Nova Liniya to Receive $22 Million Loan from IFC to Expand Its Retail Operations in Ukraine
Kyiv, October 11, 2010 – DIY supermarket Nova Liniya, a leading retailer of building materials in Ukraine, has secured a $22 million loan contract from the IFC, a member of the World Bank Group, to expand its retail chain across the country.
Dragon Capital, a leading investment bank in Ukraine and one of the major shareholders in Nova Liniya, acted as a sole financial advisor for the company in this transaction.
The $22 million financing package is the IFC’s third transaction with the company. The new loan will help support Nova Liniya’s $51,9 million expansion program, which includes development of five new DIY (do-it-yourself) stores throughout the country, bringing the total number of stores in Ukraine to 19.
Three of the five stores have been already constructed. Two are located in Sevastopol and Bucha (Kiev Oblast), and the third one was officially opened in Odessa a week ago. The remaining two stores are planned for Kyiv and Feodosiya.
“We are pleased to continue our cooperation with the IFC, which has already delivered tangible results. The new financing offers favorable terms for the company, confirming its strong position on the retail market and its high-quality financial profile,” admitted Tomas Fiala, Managing Director of Dragon Capital.
“We have a strong faith in the retail sector growth in this country, and we rank Nova Liniya among our top investment projects, supporting further expansion of its retail chain across Ukraine.”
“We are pleased to have IFC as a long-term partner. Its expertise and financing have been instrumental in helping our company grow and improve operations over the years,” said Oleg Shandar, Chairman of Nova Liniya.
“We are selling a wide range of home improvement goods and the new stores will provide Ukrainian consumers with more efficient distribution channels.”
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