Invalda INVL has signed a EUR 6.3 million credit line agreement with Luminor
Invalda INVL, the leading investment management and life insurance group in the Baltics, signed a EUR 6.3 million credit line agreement with Luminor Bank.
The funds from the credit line will be available on demand for one year. The envisaged Luminor financing would be secured with unrestricted shares of Šiaulių Bankas that Invalda INVL holds.
“We have no need to use these funds at the moment, but in the current market conditions we want to have more reserves that we could use for investments in the right circumstances,” Invalda INVL President Darius Šulnis says.
“This transaction represents a collaboration between two institutions that work in the financial markets. We believe the funds that are being made available will provide our partners with greater flexibility in their investment decisions,” says Jonas Urbonas, the Head of Corporate Banking at Luminor Bank.
About Invalda INVL
Invalda INVL is a leading Baltic investment management and life insurance group with an open approach, growing and developing, and creating well-being for people through its activities. The Group’s companies, operating across Lithuania, Latvia and Estonia, service over 290,000 private and institutional clients from both the Baltic region and abroad. These clients have entrusted the Invalda INVL Group with the management of over than EUR 1.7 billion covering a variety of asset classes including pension, mutual funds and life insurance commitments as well as individual portfolios, private equity and other alternative investment activities.
The shares of Invalda INVL have been traded on the Nasdaq Vilnius stock exchange since 1995.
Luminor is the leading independent bank in the Baltics and the third-largest provider of financial services in our region. We serve the financial needs of individuals, families, and companies. Like our home markets of Estonia, Latvia, and Lithuania, we are young, dynamic, and forward-looking.