According to a Board decision, the company has taken out a loan corresponding to 1.1 MEUR from Swedbank in Latvia. The loans are due for payment in five years´ time and have a mortgage payment rate of 27,500 EUR per year. The loans were taken up at a market interest rate which the company cannot disclose in accordance with confidentiality requirements from the bank. The loans will be used to finance continued expansion. The business is considered sufficiently established and the cash flows sufficiently predictable for this to be part of the total financing. The goal is, over time, to have a loan-to-value ratio of no more than about 20 percent of the total assets, not to place too high demands on the ability of the business to generate cash flows.
For further information contact
Aleksandrs Tralmaks, CEO
+37129203972
[email protected]
Or visit our website: www.latvianforest.se