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NOVATURAS (NTU): AB “Novaturas” repays a long-term bank loan earlier the terms agreed - raport 50

UNI - EN REPORT No

50

/

2021

UNI - EN REPORT No50/2021

The leading tour operator in Baltic states “Novaturas” repays a long-term loan to “Luminor Bank” AS. On the 7th of September 2021 the company returned the remaining EUR 3.04 million before the terms agreed.

"The growing volumes of the group's operations, generated revenues and positive market prospects allow us to repay the long-term loan now, before the term of the agreement which is at the end of 2023. Another very important aspect is that at the same time we have agreed with the bank to convert repaid EUR 3.04 million long-term loan into a credit line that we can use at any time if needed. Credit line is a common cash flow management tool in tourism business that allows to balance potential cash flow fluctuations due to the specifics of tourism business and seasonality,” says Audronė Keinytė head of “Novaturas” group.

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At the end of July 2021 AB “Novaturas” also redeemed a part of the issued convertible bonds, worth EUR 2.5 million before the terms agreed. "Although we are repaying the loans and investments ahead of schedule, this does not mean that we will stop investing in the company's strategic priorities. We continue to focus attention and resources to the development of relations with our partners abroad, strengthening company's positions in the holiday destinations and the improvement of the e-commerce system”, says A. Keinytė.

About “Novaturas” Group

AB “Novaturas” group is the largest tour operator in the Baltic States, offering summer and winter package holidays in more than 30 destinations worldwide and more than 100 sightseeing routes. In 2019, the group served more than 293 thousand customers.

Head of Finance

Giedrius Ribakovas

giedrius.ribakovas@novaturas.lt,

+370 616 79601

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