GNG Syndicate

completed

Galnaftogaz (“GNG” or “the Company”) is the second largest fuel retail company in Ukraine by volume of sale of oil products and the third largest in Ukraine by number of filling stations. GNG’s “OKKO” brand filling stations offer high-quality transportation fuels, consumer-oriented service and a broad range of ancillary services such as convenience stores, car washes, and fast-food. GNG is a long-standing IFC client with the first IFC investment in GNG in 2005. GNG requested IFC to provide additional support to partly finance its long-term financing needs which include; (a) its planned capital expenditure over the next two years; and (b) conversion of some of its short-term working capital facilities into long-term loans (the “Project”).As of 2012 year end, GNG manage nine fuel storage depots and 387 filling stations across Ukraine, in which 359 filling stations are under the OKKO brand, which follow European Union (EU) standards. Besides these facilities, GNG also uses storage services of three third-party fuel storage depots. For this new project, GNG will continue expansion of its OKKO brand filling stations and potential construction and/or acquisition of new fuel storage depot.