KDN to borrow money for more investments_x000d_

11.10.2006 Source: Dnevnik

KDN, the Gabrovo-based maker of uPVC, PE and PP pipes, will apply for a EUR 3m 7-year investment credit and a EUR 0.6m 1-year working credit from the United Bulgarian Bank. As loan security, the company will mortgage an administrative building and will register a special pledge on the production equipment that will be bought with the credits. KDN is currently repaying a EUR 4m investment credit and a EUR 1.5m working capital credit provided by Raiffeisenbank in late August.