The company plans to use RON12.5 million as working capital, and the rest of the money will be used on refinancing.
Avicola Buzau contracted in 2002 and 2006 two credit lines from Banca Romaneasca, worth RON850,000 and EUR1.2 million respectively. There is EUR540,000 left to be returned in the second credit line.
The loan taken from Eximbank will be guaranteed by Avicola Buzau and another two companies in the group, , Avis Lipia and Aaylex Fresh.
Avicola Buzau is 66.84% owned by Aaylex Trading.
Avicola has a share capital of RON42.7 million, divided into 427.6 million shares with a face value of RON0.1.
Company shares closed Thursday at RON0.0301, down 4.14% on the day. (EUR1=RON4.353)