“Novaturas” Group has agreed on more favorable loan repayment terms

April 8, 2021 12:50 PM EDT

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Following the signing of EUR 10 million worth investment agreement with the State Investment Management Agency on the 2nd of April, more favorable loan repayment terms agreed with AB “Luminor” bank come into force as of today:

  • AB “Luminor” bank reduces the loans interest and extends the repayment schedule of EUR 5.3 million long-term loan until the end of 2023. The bank also changes the repayment schedule adjusting it to the Company’s projected cash flows.
  • AB “Luminor” bank renounces the requirement to keep the Company’s restricted funds worth EUR 2.1 million by channeling the money to repay the loans.

At the same time favorable conditions for the extension of guarantee limit already for 2022 season are discussed in advance.

About “Novaturas” Group

AB “Novaturas” Group is the largest tour operator in the Baltic States, offering summer and winter package holidays in more than 30 destinations worldwide and more than 100 sightseeing routes. In 2019, the group served more than 293 thousand customers.

Tomas Staškūnas
 +370 687 10426

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