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.

The processing of personal data is subject to our Privacy Policy and the Cookie Policy. Before submitting your e-mail address, please make sure to acquaint yourself with these documents.

Top stories

Dual quality in the EU will be punished

Slovakia’s Agriculture Ministry welcomed the change, calling it a victory.

Food prices keep falling.

Blog: Bringing top business minds and students together

Martin Kardoš of CSI Leasing introduces the Mentor Network Program aimed at pairing young talents with experienced mentors from the business world.

Martin Kardoš, Managing Director CEE at CSI Leasing, at one of the Mentor Network Program events.

Blog: What about parking slots for “brains”?

Will the state of biomedical research trigger reactions at least half as passionate as Bratislava's parking policy?

Illustrative stock photo