On 14 June 2013 the State Loan Commission (hereinafter – the Commission) adopted a decision to approve to grant to the European Investment Bank (hereinafter – EIB) a state guarantee securing monetary obligations of Klaipėdos Nafta AB (hereinafter, the “Company”) arising out of the credit agreement (up to EUR 87 mill. (up to LTL 300 mill.)) to be entered with EIB for the implementation of the project of liquefied natural gas terminal. The proposed amount of a state guarantee is EUR 81 093 605 (LTL 280 mill.).
The Commission also adopted a decision to propose to oblige the Company to mortgage future immovable assets together with its inseparable appurtenance (i.e. connections of the liquefied natural gas terminal and its technological appurtenance) which value is not less than 100 per cent of the loan to be granted under the credit agreement with EIB. The respective mortgage shall secure interest of the state under the state guarantee issued to EIB.
Issue of a state guarantee is one of the conditions precedents to disburse the first tranche under the credit agreement.
Director of Finance and Administration Department, Mantas Bartuška, +370 46 391 763