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Wimm-Bill-Dann, the country's largest dairy company, said it is seeking bank loans for expansion and that local retailers are not delaying payments.
The company is in talks on possible loans "in case such a necessity arises next year," spokeswoman Marina Kagan said Wednesday. It wants to see on which terms banks can lend the money, she added.
Wimm-Bill-Dann, the maker of Chudo yogurts and J7 juices, sought loans as retail chains delayed payments by as much as 120 days, press official Ella Chernetskaya said Dec. 2, citing chairman David Yakobashvili. The producer is having no difficulties with payments by chains, some of which have sped up transactions, Kagan said.
Wimm-Bill-Dann has 5 billion rubles ($179 million) of bonds that are due in 2013 and putable in March next year. The producer has funds to pay off the bonds if it doesn't raise the financing, according to Kagan.
Wimm-Bill-Dann Looking for Loans
05 December 2008
Bloomberg
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