June 9 (SeeNews) - North Macedonia's steel mill Makstil [MSE:STIL] said on Friday it plans to sign a contract with local lender Stopanska Banka [MSE:STB] to increase an existing multi-currency credit line by 5 million euro ($5.4 million).
Under the proposed amended agreement, the loan facility would have an aggregate amount of 34.5 million euro, Makstil said in a bourse filing.
The credit line will be valid until December 31, 2035.
Makstil's shareholders will vote on the proposed contract at a meeting on July 10.
The company's shares traded at an average price of 128 denars ($2.2/2.1 euro) on the Macedonian stock exchange on Friday.
Makstil produces hot rolled heavy plates. Its main shareholder is Liechtenstein-based Duferco Group, which operates in steel production and distribution, energy trading, shipping and logistics, and engineering.
($ = 0.928703 euro)
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