| Emitents | Reverta, AS (iepriekšējais nosaukums - Parex banka, AS) (097900BHBR0000064855) |
| Veids | Citi |
| Valoda | EN |
| Statuss | Publicēts |
| Versija | |
| Datums | 2010-02-08 09:52:39 |
| Versijas komentārs | |
| Teksts |
As the leading shareholder at the Parex banka, in March 2009 the Latvian government issued guarantees in relation to syndicated loans that have to be repaid, and it was fully informed about the additional finances that would be required for this purpose. Parex banka has managed to stabilise the situation at the bank, improve its liquidity, and find most of the money that’s needed to pay back the loans. Accordingly, the level of support needed from the government is smaller than had been expected in 2009. According to the bank, approximately LVL 218 million will be
needed for the next repayment of the loan, of which the bank itself
will be able to provide around LVL 118 million. The government, as
a co-owner of the bank, will offer support in this regard in
accordance with previously established schedules and sums. The
government will make a new term deposit of around LVL 100 million
(EUR 145 million) after the Cabinet of Ministers takes a decision
on the matter on February 9.
It’s important to note that the Parex banka’s
obligations vis-à-vis the government will be reduced as a result of
this transaction. The state’s guarantees covered the whole sum of
the syndicated loans, but the amount of money that is actually
needed is smaller than had been expected.
When the government agreed to guarantee the bank’s syndicated
loans in March 2009, it undertook obligations related to
guaranteeing those repayments. The agreement between the bank and
the lenders spoke to changes in the repayment schedule, which
called for 30% of the total sum (EUR 232.5 million, or around LVL
163.4 million) to be repaid in March 2009, 40% (EUR 310 million, or
LVL 217.8 million) to repaid in February 2010, and 30% (EUR 232.5
million or LVL 163.4 million) in May 2011.
According to the National Treasury, the government has
deposited LVL 622 million at the Parex banka through seven
term deposits. The restructuring plan for the bank, which was
approved by the Cabinet of Ministers on May 8, 2009, says that the
state will maintain its support for the bank until the bank starts
to repay the investments. So far the bank has paid out LVL
42.12 million in interest on the term deposits.
For more information:
Baiba Melnace, director, Communications Division
Telephone +371-6708-3850, 2926-5135
|
| Pielikumi |
|