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Friday, 19.04.2024, 21:17
Lithuania's sole cement maker agrees with banks on extension of EUR 40 mln loan
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Since September of 2016, the company and the banks were in talks on
postponement of the loan settlement deadline for three years, however, Akmenes Cementas went to court and asked
for an obligation for the banks to comply with the loan payment schedule signed
in May.
A Vilnius court on Sept. 28 satisfied Akmenes
Cementas' claim to drop the case after the company settled the dispute with
the banks – the banks agreed to continue crediting the company under a deal.
Arturas Zaremba, the company's CEO, told BNS he could not yet comment on the deal.
SEB, Swedbank, DNB, Danske Bank and Snoras signed a
syndicated loan agreement with Akmenes Cementas back
in May 2007. The amount of the loan was later repeatedly adjusted due
to the crisis and eventually reached around 53 million euros.
Pohjola Bank, which has since been renamed OP
Corporate Bank, joined the syndicate in 2010.
The company started returning the loan in 2014 after launching a new
110-million-euro production line.
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