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Altyn subsidiaries complete US$10M loan repayment

Altyn Plc said Nov. 27 that its TOO GMK Altyn MM and DTOO GRP Baurgold subsidiaries completed the obligations and repayments for a US$10 million loan agreement with the European Bank for Reconstruction and Development last month.

The companies, which signed on to the agreement in 2012, completed three quarterly capital repayments of US$2.5 million, plus 7.5% interest. The completion of the loan repayment will provide significant cash flow upside, the company said in a statement.