The Board of Directors of Nafoods Group Joint Stock Company (NAF) approved the provision of loans to subsidiaries. The Board decided to use the proceeds from the private placement to International Finance Corporation (IFC) and Endurance Vietnam Capital I (ECA) to provide loans to subsidiaries.
- Proceeds from the capital increase: VND197,883,696,307
- Value of loans to be provided to subsidiaries: VND57,233,700,000
- Objects for loans:
No.
Object
Amount
(VND)
Purpose
1
Nafoods Southern JSC
17,000,000,000
To pay for the debt at HD Bank – Van Hanh Branch
2
20,000,000,000
To pay for the debt at Vietcombank – Nghe An Branch
3
Nafoods Highland JSC
20,233,700,000
To pay for the debt at Vietinbank – Vinh Branch
Total
57,233,700,000