Tyndales borrows $5m from Asian-Pacific for lumbering | Far East, Finance, business MarchmontNews.com

Far East | Finance, business | Materials, extraction

Tyndales borrows $5m from Asian-Pacific for lumbering

7 May '09
Timber company Tyndales in Amur Region has opened a $5m line of credit with Asian-Pacific Bank in the regional capital of Blagoveschensk, the firm said earlier today.

Under terms of loaning, Asian-Pacific Bank is lending for two years at 16.5%.

The company is reportedly borrowing to replenish its circulating assets.

Tyndales is the largest timber firm in Amur Region.