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LNA: SEB Bank increased lending volume to PLC “Linas Agro Group” up to LTL 132 million

Spekuliantai.lt | 2010-08-16 | NASDAQ OMX biržų naujienos | perskaitė: 1266
Raktiniai žodžiai: Linas Agro Group, LNA
LNA: SEB Bank increased lending volume to PLC “Linas Agro Group” up to LTL 132 million

Linas Agro Group AB Other information 16.08.2010

SEB Bank increased lending volume to PLC “Linas Agro Group” up to LTL 132
million

SEB Bank has increased its credit limit by LTL 52 million that was issued a
year ago to “Linas Agro” - member of “Linas Agro Group”, engaged in
international trade of agricultural products. Financing that has increased more
than 1.5 times from LTL 80 to 132 million has been issued for the development
of the company's activities and its working capital.

“Despite economic changes both locally and in the global markets, public
limited company “Linas Agro Group” remains one of the largest and most
promising agricultural products exporters in the Baltic region. Considering the
Group's successful activity development, its strengthened capital base and the
significance of its relevant investments, we are aiming at strengthening our
cooperation when remaining the Group's key financial partner,” says Aivaras
Čičelis, Vice President and Head of Corporate Banking Division of SEB Bank.

Chief Financial Officer of “Linas Agro Group” Tomas Tumėnas says that right now
the situation is especially favourable for the development of the Group
companies'. “In agricultural production trade signals of recovery are already
manifest, therefore, successful cooperation with SEB Bank will enable our Group
to entrench in global markets and maintain the leader position within the
Baltic region. Lending volume enlargement is a measured step that will
strengthen Groups financial stability and enable to realize development plans
when expanding buying up scale of grains and selling scale of fertilizer to
farmers,” T. Tumėnas says.


About SEB Bank
SEB Bank, member of SEB - a Northern European financial group - is Lithuania's
major bank offering a full range of banking services to private individual and
corporate customers and financial institutions. SEB Bank is Lithuania's market
leader in terms of key banking services.
SEB is Northern European financial group offering banking services to nearly
400 thousand companies and institutions and 5 million private individual
customers. SEB provides universal banking services in Sweden, Germany and in
the Baltic states - Estonia, Latvia and Lithuania; SEB has local presence in
other Northern European countries, namely, in Norway, Finland and Denmark,
also, it has its subdivisions in Ukraine and in Russia, and in the global
market SEB is represented by its international subdivisions in the world's
major financial centres.

About Linas Agro Group, AB
Linas Agro Group, AB is an integrated agribusiness company engaged in
international agricultural business, production and trade in agricultural
produce and raw materials. It controls companies in Lithuania, Latvia, Ukraine
and Denmark. The Group consists of the following companies: Linas Agro, AB, a
Lithuanian company engaged in international trade in agricultural plant
produce; Linas Agro, UAB controlling grain storages; Grūdų centras, KŪB
(controlling grain storages in Kėdainiai, Kupiškis, Joniškis, Šiauliai and
Vilkaviškis), grain trade company in Latvia - Linas Agro, SIA; international
trade company in Denmark - Rosenkrantz A/S; fertilizers trade and production
company in Ukraine CJ-SC UKRAGRO NPK; Landvesta, ŽŪB, a group of companies
controlling agricultural land; and Linas Agro Konsultacijos, UAB controlling
agricultural companies.



For more detailed information please contact:

Ieva Kulvinskaitė, Head of Communication Unit of SEB bank
Tel. +370 5 268 2423, 8 685 60 424, e-mail ieva.kulvinskaite@seb.lt


Tomas Tumėnas, Linas Agro Group, AB Chief Financial Officer
Tel. +370 45 507 393, e-mail t.tumenas@linasagro.lt

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