Estonia, Foodstuff, Funds, Industry, Markets and Companies

International Internet Magazine. Baltic States news & analytics Thursday, 03.12.2020, 22:16

Estonia: Subsidiary of PRFoods borrowing from Rural Development Foundation

BC, Tallinn, 26.10.2020.Print version
Listed Estonian fish and fish products seller AS PRFoods has approved its subsidiary Osauhing Vettel taking a six-year investment loan in the amount of one million euros from the Rural Development Foundation, writes LETA/BNS.

The interest rate of the loan, issued under the measure titled "COVID-19 loan to bio- and rural enterprises," is 2.5% for the first two years and 4.5 % thereafter, PRFoods informed the stock exchange.

The investment loan will be used for the automatization of the factory of Osauhing Vettel in Saaremaa.

The loan is secured by a mortgage and a commercial pledge on the assets of Osauhing Vettel to the following rankings of existing creditors and a 100 % guarantee from AS PRFoods.

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