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Ekspress Grupp
Capital/Financing Update • Jul 21, 2021
2214_iss_2021-07-21_22f540aa-7a24-419e-82db-843cbd263ef7.pdf
Capital/Financing Update
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Company Type Category Disclosure time AS Ekspress Grupp Company Release Other corporate action 21 Jul 2021 08:30:00 +0300
Currency
Amendments to the loan agreements of AS Ekspress Grupp Title
AS Ekspress Grupp and AS SEB Pank signed amendments to the loan agreements, as a result of which the new due date of the loans is 18 July 2026 instead of the previous date of 25 April 2022. According to the new agreement, the monthly repayment was reduced from EUR 204 thousand a month to EUR 60 thousand a month.
In addition, a new loan agreement was concluded with AS SEB Pank to refinance the loan of AS Citadele banka in the amount of EUR 2.1 million with due date 3 June 2024. According to the new agreement the loan repayment schedule will remain unchanged, the new due date is 18 July 2026.
According to the new agreements the interest margin will be in the range of 1.75%-1.9% instead of the previous 1.9%-3.9%. Other key terms of the loan agreements remained unchanged.
As a result of the amendment to the loan agreements, AS Ekspress Grupp will considerably improve the group's liquidity position and will have greater flexibility to maintain an adequate working capital level, strengthen its core existing operations and increase the investments in development of digital businesses.
Signe Kukin CFO of the Group AS Ekspress Grupp Telephone: +372 669 8381 E-mail address: [email protected] (mailto:[email protected])
AS Ekspress Grupp is the leading media group in the Baltic States whose key activities include web media content production, publishing of newspapers and magazines and provision of printing services in Estonia, Latvia and Lithuania. Ekspress Grupp that launched its operations in 1989 employs almost 1600 people, owns leading web media portals in the Baltic States and publishes the most
Finantsinspektsioon http://www.fi.ee
popular daily and weekly newspapers as well as the majority of the most popular magazines in Estonia.
Finantsinspektsioon http://www.fi.ee
