Sukhoi will grant 3 billion rubles credit to SCAC - RUSSIAN AVIATION

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Sukhoi will grant 3 billion rubles credit to SCAC

Russian Aviaton » Wednesday September 17, 2014 10:52 MSK

The Board of Directors of Sukhoi Holding Company approved the provision of 3 billion rubles loan to Sukhoi Civil Aircraft Company (SCAC). The decision was made at a meeting of the Board of Directors held on September 2nd 2014, Interfax-AVN reports.

"In accordance with the agreement, Sukhoi Holding Company (lender) transfers the funds to SCAC (borrower). The borrower must return these funds to the lender in compliance with the terms and conditions of the contract", - said in the statement. The loan amount is 3 billion rubles, the interest rate is 11%, and the interests are paid on the date of final repayment. The loan period was not unveiled.

The Board of Directors also approved a number of interested-party transactions between Sukhoi Company, Irkut Corporation, Aviacomposite and SCAC worth 329,971 million rubles.

SCAC was founded in 2000 in order to implement projects in the civil aircraft segment, including development and production of Sukhoi SuperJet100 (SSJ100) airliners.

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