"Akropolis" is provided with the largest-ever loan in Lithuania
2005-04-18 Back
Today, three Lithuanian commercial banks, Hansabankas, Nordea Bank Lietuva and Sampo, have signed an agreement with "Vilniaus Akropolis", under which this Company is provided with the largest-ever loan in Lithuania.
The arranger and agent of this syndicated loan worth EUR 185 350 000 (LTL 640m) is Hansabankas. The largest contribution - EUR 98.4m (LTL 340m) - comes from Hansabankas too. Nordea Bank Lithuania and Sampo have contributed EUR 63.4m (LTL 218.9m) and EUR 23.5m (LTL 81.3m) respectively.
"Vilniaus Akropolis" will employ the borrowed and its own funds for the construction of new shopping centers "Akropolis" in Kaunas and Klaipeda.
"Our Company's success in Vilnius where as many as 11 million people visited "Akropolis" in 2004 and the growing demandfor quality shops and entertainment centers in Lithuania encourages us to continue building such shopping malls in other Lithuanian cities. In Klaipeda, "Akropolis" is set to open its doors this coming December and in Kaunas, in mid-2006", - says Mindaugas Marcinkevicius, Chairman of Board of "Vilnius Akropolis" (a real estate management and development company).
"The size of this deal alone speaks of its importance to Lithuanian economy. We are glad to have arranged this loan in conjunction with other Lithuanian commercial banks, Nordea and Sampo, and thus contributed to an impressive "Akropolis" expansion in this country. I also believe that such an active approach of banks to financing of such large-scale projects will contribute to Lithuania's economic development" - says Tomas Andrejauskas, Deputy Chairman of Board of Hansabankas.
The company "Akropolis" controls the trade and entertainment center, "Akropolis" in Vilnius that is the largest company of this kind in the Baltics. It is owned by a large group of private companies called VP Grupe.
