Šiaulių bankas has been granted a syndicated loan

2006-12-27

Six world banks have granted a syndicated loan to Šiaulių bankas in the amount of EUR 12 million. The organizer of the syndicate is the European Bank for Reconstruction and Development (EBRD).

The contribution of the European Bank for Reconstruction and Development comprises the third part of the loan, i.e. EUR 4 million. This portion of the credit is provided for six years. The rest of the credit line, i.e. EUR 8 million for three-year period with a possibility to extend it for the same three-year period, has been financed by five commercial banks Commerzbank (Germany), Raiffeisen Zentralbank Oesterreich (Austria|), Hipoteku Banka (Latvia), Caixa Geral de Depositos (Portugal) ir Land Bank of Taiwan (Taiwan).

The syndicated loan organaized by the European Bank for Reconstruction and Development is of the general purpose and is going to be used to finance the general activities of Šiaulių bankas. “The syndicated loan will be allocated to satisfy the client’s needs as well as to provide lending in more favourable conditions to the bank’s main focus – small and medium-sized business,” – said Donatas Savickas, Deputy Chairman of the Board.

It is not the first time when Šiaulių bankas has been granted with a credit line from the European Bank for Reconstruction and Development. In September last year EBRD granted the loan in the amount of EUR 12 million, in 2000 – the credit line in the amount of EUR 5 million to finance small and medium-sized business.

It is already the ninth credit line granted to Šiaulių bankas by the international financial organizations. Two weeks ago the Bank has signed the agreement with the German finance and credit company “KfW Bankengruppe” for a long-term credit line to finance municipal infrastructure projects. Beside EBRD and KfW Šiaulių bankas earlier has been provided with the credit lines by Nordic Investment Bank (NIB) and the Europe Council Development Bank (CEB).