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Swedbank, SEB lending EUR 130 mln to Lithuania's Scandagra
BC, Vilnius, 10.07.2017.Print version
Swedbank and SEB, one of the biggest banks in Lithuania, are lending 130 million euros to Swedish-owned Lithuanian fertilizer, seed, plant protection product and grain trading company Scandagra, which will use the money for investment and cash flow, informs LETA/BNS.
Vytenis Suklys, Scandagra Group's CFO, says the
group has decided to redistribute the loans portfolio and focus on financing
the operations in Lithuania.
"The company made the strategic decision to redistribute the current
loans portfolio, focus the financing of the operations in the Baltic states in
Lithuania and choose and syndicated loan from two banks," Suklys said in a
press release.
The credit from SEB is 48.5 million euros, while that from Swedbank is 81.5
million euros.
The group operates fertilizer, seed, plant protection product and grain
trading companies Scandagra in
Lithuania, Latvia and Estonia, Latvia's transport company Baltic Transshipment Center and grain processing company in Latvia Rezeknes Dzirnavnieks.