MKS Attracts USD 5.5 mln Loan from Cargill

MKS (KVIN: BUY) announced that it has received a one-year USD 5.5 mln loan from Cargill Financial Services (USA). The funds will be directed at retail network development. Alexander Viktorov: The company continues to cheapen its debt by increasing the share of lower cost foreign borrowings. In December last year, Cargill already provided MKS with a USD 6.9 mln loan at 6.5%, against 12-14% charged by domestic banks. This allowed MKS to halve its total borrowing costs to 12% last year and led interest expenses as percentage of revenues to drop from 3.3% in 2006 to 1.4% in 2007.