December 29 (SeeNews) - North Macedonia-based steel products manufacturer Fakom [MSE:FAKM] said it agreed with local lender Halk Banka, owned by Turkish state-owned lender Halkbank [IST:HALKB], to increase by 1.2 million euro ($1.3 million) to 2.2 million euro an existing revolving loan facility.
The loan has a term of validity until November 17, 2033, Fakom said in a bourse filing earlier this week. For the duration of the loan facility, Halk Banka will continue to approve short-term loans and long-term loans to Fakom, open letters of credit and issue guarantees under the contracted conditions.
Halk Banka agreed to provide a revolving loan of 1 million euro to Fakom in November 2017.
Fakom specialises in the production of hot rolled steel sheets, hot rolled profiles, tubular profiles, galvanized and plastic-coated sheet metals and others.
($ = 0.940 euro)
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