Invalda INVL, the leading investment management and life insurance group in the Baltics, signed a EUR 6.3 million credit line agreement with Luminor Bank.
The funds from the credit line will be available on demand for one year. The envisaged Luminor financing would be secured with unrestricted shares of Šiaulių Bankas that Invalda INVL holds.
“We have no need to use these funds at the moment, but in the current market conditions we want to have more reserves that we could use for investments in the right circumstances,” Invalda INVL President Darius Šulnis says.
“This transaction represents a collaboration between two institutions that work in the financial markets. We believe the funds that are being made available will provide our partners with greater flexibility in their investment decisions,” says Jonas Urbonas, the Head of Corporate Banking at Luminor Bank.
The person authorized to provide additional information is:
Darius Sulnis, President of Invalda INVL
E-mail Darius.Sulnis@invl.com
