Motor Sich to Draw Credit from Shareholders

Motor Sich (MSICH: BUY) General Director Vyacheslav Boguslayev said that the company had signed a preliminary agreement to attract a hard currency loan from its shareholders at a rate of 6.5%, which he said is more favorable than bank financing. Boguslayev did not specify the volume, but said it would be large. Additionally, Boguslayev could not confirm the exact date for the company’s next placement of a 4% stake; previously he said it would take place in September in Frankfurt.