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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