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CORPORATE NEWS

Nafta, Bank Austria sign $10m loan

Nafta Gbely and Bank Austria signed a loan contract worth $10 million on July 7. The loan, which matures in 2000, will be drawn gradually in US dollars or in Deutsch marks. The interest rate is tied to LIBOR and the interest rate spread of a creditor is up to 1 percent p.a. The loan was non-collateral.

Bank officials said that such lucrative conditions partially stemmed from Nafta's current economic situation and market position, but added that the development prospects of Nafta and its partner, the state-run gas company SPP, meant most.

"The loan will be used to cover operational costs and reconstruction of Nafta's underground natural gas storage facilities," said Jozef Čechovič, Nafta's economic director.

Top stories

Discussion about road project becomes emotional

Analysts want more alternatives for the road from Zvolen to Košice to be assessed

The protest at Soroška

Slovakia commemorates the 1968 invasion. Here’s what it looked like Photo

Anniversary of the Warsaw Pact troop invasion that ended the Prague Spring.

Garth: We need a deal that will benefit both

“When I talk to the Brits living in Slovakia, they are quite relaxed about things,” UK Ambassador to Slovakia Andrew Garth says about the Brexit-related concerns.

UK Ambassador to Slovakia Andrew Garth

“Natural police” to protect nature and animals

Those who commit crimes against the environment should watch out.

Illustrative stock photo