Brief: Prfoods Guarantees Loan Of EUR 1.0 Million For Its Osauhing Vettel Subsidiary

PRFoods AS

23/10/2020 16:07

Oct 23 (Reuters) - PRFoods AS  PRF1T.TL :
    * SAYS THE COMPANY APPROVES BORROWING BY ITS SUBSIDIARY
OSAUHING
VETTEL  OF THE SIX-YEAR INVESTMENT LOAN AMOUNTING EUR 1.0
MILLION FROM RURAL DEVELOPMENT FOUNDATION
    * SAYS INTEREST RATE OF THE LOAN WILL BE 2.5% FOR THE FIRST
TWO
YEARS AND 4.5% THEREAFTER
    * SAYS INVESTMENT LOAN SHALL BE USED FOR AUTOMATIZATION OF
THE
FACTORY OF OSAUHING VETTEL IN SAAREMAA
    * SAYS LOAN IS SECURED BY MORTAGE AND COMMERCIAL PLEDGE ON
ASSETS
OF OSAUHING VETTEL TO THE FOLLOWING RANKINGS OF EXISTING
CREDITORS AND A 100% GUARANTEE FROM AS PRFOODS

Source text:  ID:nGNE8k5fHs 
Further company coverage:  PRF1T.TL 

 (Gdansk Newsroom)
 ((Gdansk.newsroom@thomsonreuters.com; +48 58 778 51 10;))