STOCKHOLM, Sweden, May 3, 2002 (PRIMEZONE) -- The City Government of Tallinn has confirmed taking the budgeted Nordea Bank loan for the current year in the amount of EUR 25 million, since Nordea Bank extended the most flexible and favourable loan conditions.
The tenor of the loan is five years with an interest rate pegged at 6- month Euribor. The loan conditions allow the City a grace period of one year before repayments begin in the second year of the loan period.
Altogether, ten local and foreign banks submitted their applications to the City tender. Four banks, namely, Nordea, HypoVereinsbank, Bayerische LB/LB Kiel and Sampo were asked to the final tender.
For further information:
Juhani Seilenthal, Nordea Bank Estonia, tel. +372 6283 200 Seija Turpeinen, Media Relations Finland, tel. +358 9 165 42652
Nordea is the leading financial services group in the Nordic and BalticSea region and operates through four business areas: Retail Banking,Corporate and Institutional Banking, Asset Management & Life and GeneralInsurance. The Nordea Group has nearly 11 million customers, 1,245 bankbranches and 125 insurance service centres in 22 countries. The NordeaGroup is a world leader in Internet banking, with almost 3 million e-customers. The Nordea share is listed in Stockholm, Helsinki andCopenhagen.
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