Brief: Vestel Beyaz Says CBRT Approves Extension Of 1.5 Bln Lira Loan, Co Uses First Tranche Of Loan Of 300 Mln Lira

Vestel Beyaz Esya Sanayi Ve Ticaret

03/03/2023 05:53

March 3 (Reuters) - VESTEL BEYAZ  VESBE.IS :
    * SAID ON THURSDAY CBRT APPROVES EXTENSION OF 1.5 BILLION
LIRA
LOAN UNDER ITS ADVANCE LOAN AGAINST INVESTMENT COMMITMENT (ALIC)
TO BE USED FOR FINANCING OF CO'S ONGOING CAPACITY EXPANSION
PROGRAM
    * THE TERM OF THE LOAN IS 10 YEARS WITH 2-YEAR GRACE PERIOD
    * THE FIRST TRANCHE OF LOAN AMOUNTING TO 300 MILLION LIRA IS
USED
WHILE REMAINING TRANCHES WILL BE UTILIZED OVER THE YEAR
    * AS INVESTMENT MEETS CRITERIA OF DOMESTIC MACHINERY USAGE
REQUIRED UNDER THE ALIC FACILITY, 25 BPS CUT HAS BEEN APPLIED TO
LOAN INTEREST RATE
    * ACCORDINGLY, THE ANNUAL INTEREST RATE OF THE LOAN IS 9.25%
    * CO BENEFITS FROM INVESTMENT INCENTIVES SUCH AS TAX CREDIT,
CUSTOMS DUTY EXEMPTION AND VAT EXEMPTION FOR SAID INVESTMENTS

        
 Source text for Eikon:  urn:newsml:reuters.com:*:nIKA8PqPM8
 Further company coverage:  VESBE.IS  

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