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Where there is no law, but every man does what is right in his own eyes, there is the least of real liberty
Henry M. Robert

AVTOZAZ TO RECEIVE DAEWOO LOAN TO PAY DEBTS

7 April, 1998 - 00:00

The South Korean company DAEWOO will grant AvtoZAZ a loan worth $55 million to pay its debts, reports UNIAN. The investment program of the Ukrainian-Korean joint venture, AvtoZAZ-DAEWOO, also envisions a loan to implement the project against DAEWOO collateral, at the LIBOR rate plus 15% annual. The credits are designated as the principal sources of finance, the additional being $150 million as part of the statutory fund, along with the joint venture revenues.

 

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