Agria gets extension of time to repay $10 mln LIC loan

Mon, 29 Oct 2012

Oct. 30 (BusinessDesk) - Livestock Improvement Corp has granted an extension to Agria on the Chinese company’s $10 million loan it used to help it take control of PGG Wrightson. “To give Agria time to source additional funds to enable repayment, the payment date for these amounts has been extended,” LIC said in a statement. “The effect of that extension is that an amount equal to not less than 50 percent of the loan extended by LIC will fall due for payment on 19 December.” The balance is due in March 2014 and interest rates have been adjust...

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