Cherkizovo, MKB agree on 10 bln rbl loan

MOSCOW, Aug 27 (PRIME) – Moscow Credit Bank (MKB) has opened a credit line of up to 10 billion rubles to Cherkizovo-Svinovodstvo, part of Cherkizovo group, the company said in a statement on Friday.

The repayment date is December 26, 2022. The transaction including interest amounts to 12 billion rubles, which is 27.31% of the book value of Cherkizovo-Svinovodstvo’s assets as of March 31, 2021. The company is registered in Lipetsk Region.

Earlier on Friday, Cherkizovo Group said it plans to set up a 48 billion ruble pork slaughter and processing facility in Tula Region. Credit financing of 40.8 billion rubles will be provided by Gazprombank in the form of a 12-year credit line.

Cherkizovo Group is Russia’s largest mixed fodder manufacturer and ranks 3rd in the poultry, pork and processed meat markets. Cherkizovo’s main shareholder is the family of Igor Babayev, the founder of Cherkizovo, while Spain’s Grupo Fuertes owns 8% of the company. Free float stands at about 2.4%.

(73.5875 rubles – U.S. $1)

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