29 September 2011
Stirol (UX: STIR UK, BUY) secured a USD 100 mln three-year loan from state-owned Oshchadbank on August 25, according to a company announcement via the SEC’s disclosure system. The loan is due August 2014 and was drawn at a 10.05% annual interest rate. Antonina Davydenko: The loan is somewhat unexpected given new beneficiary DF Group was thought to have its own funds to finance Stirol’s modernization projects announced earlier this year. The interest rate is approximately 2 pp below the market rate.