PRF: Subsidiary of AS PRFoods is borrowing from the Rural Development Foundation
10/23/2020 | 11:00am EST
AS PRFoods has approved the borrowing of the six-year investment loan in the amount of one million euros from the Rural Development Foundation by its subsidiary Osaühing Vettel under the measure „COVID-19 loan to bio- and rural enterprises” (aid measure 3.3). The interest rate of the loan will be 2.5% for the first two years and 4.5% thereafter. The investment loan shall be used for automatization of the factory of Osaühing Vettel in Saaremaa. The loan is secured by a mortage and a commercial pledge on the assets of Osaühing Vettel to the following rankings of existing creditors and a 100% guarantee from AS PRFoods.