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VNV Global — Capital/Financing Update 2015
Oct 9, 2015
3125_rns_2015-10-09_89649d0f-1476-4f5f-ad82-98589ac02b65.pdf
Capital/Financing Update
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Press Release October 9, 2015
Vostok New Ventures announces that it has obtained a USD 25 mln secured credit facility from Pareto Bank ASA, Pareto Securities AB and Pareto Securities AS
Vostok New Ventures Ltd ("Vostok New Ventures" or the "Company") today announces it has signed a twelve-month USD 25 mln secured credit facility agreement with Pareto Bank ASA, Pareto Securities AB and Pareto Securities AS. The facility will allow the Company to remain flexible and agile around future investment activities and its liquidity management operations.
The facility is secured by a first priority pledge over shares in the Company's wholly owned subsidiary Vostok New Ventures (Cyprus) Limited and by a charge over the Company's cash and custody account.
Vostok New Ventures' Managing Director Per Brilioth comments:
"This credit facility is a cost-effective bridge funding until our high yielding debt investments mature and will allow us to remain flexible around a continued strong deal flow and our liquidity management operations."
Per Brilioth Managing Director
For further information please contact: Björn von Sivers, Investor Relations: +46 (0)8-545 015 50
Vostok New Ventures Ltd, formerly Vostok Nafta Investment Ltd, is an investment company with the business concept of using experience, expertise and a widespread network to identify and invest in assets with considerable potential for value appreciation. The company has a special focus on online marketplaces and businesses with strong network effects. The Swedish Depository Receipts (SDRs) of Vostok New Ventures are listed on Nasdaq Stockholm, Mid Cap segment, with the ticker VNV SDB. For more information on Vostok New Ventures, visit www.vostoknewventures.com.