OREANDA-NEWS. On 21 August 2009 was announced, that the Kyiv Administration expects to mutually write of UAH 318 mln in debt with Kyivenergo (KIEN), Acting Administration Chairman Anatoly Golubchenko said yesterday. Golubchenko did not disclose further details of the plans, but said the procedure would go according to a Cabinet of Minister's order.

Concorde Capital: If the city's debt reconciliation plan satisfies all the sides involved, it increases the chances that all of the remaining debt the city owes Kyivenergo for losses incurred from heating energy supplies will be paid off by yearend. Currently, the city's high debt leads to an increase in Kyivenergo's payables for gas supplied, which leads to periodical cuts in gas supplies and the use of more costly oil fuel as an input. For now, the news is stock-neutral.

Concorde Capital is a full service investment bank operating on the Ukrainian, Russian and CIS markets. In 2007 Concorde Capital’s analytical team was recognized as the Top Team covering Ukraine by Thomson Extel's Pan European Survey. Senior Analyst Alexander Paraschiy was recognized as the Leading Pan-European Investment Analyst – European Emerging Markets. Concorde Capital is a leader when it comes to private placements and M&A deals. Concorde Capital’s sale of a stake in Electron Bank to Volksbank International AG was named the Best Ukrainian M&A deal of the year 2007 by the Adam Smith Institute.