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The Seimas of the Republic of Lithuania decided to grant a state guarantee to the Nordic Investment Bank

July 8, 2014

On 8 July 2014, the Seimas of the Republic of Lithuania decided: 1. To grant a state guarantee to the Nordic Investment Bank (hereinafter, the NIB) regarding the loan in the amount of EUR 34,754,402 granted to AB Klaipedos Nafta (hereinafter, the Company) for the period up to 20 years at the interest rate set by the NIB for financing the investment project “Liquefied Natural Gas Terminal” (hereinafter, the LNGT), the state assuming guarantee obligations regarding repayment of the loan of EUR 34,754,402 and payment of interest. 2. To establish that the state guarantee regarding the above-mentioned loan shall also be valid when: 2.1. the LNGT project implemented by the Company and/or the works and/or the assets forming it are transferred and/or the LNGT activity performed by the Company is moved to a subsidiary directly 100 percent controlled by the Company under the procedure set by legal acts; 2.2. all the rights and obligations of the Company in connection with the implementation of the LNGT project and/or the works and/or the assets forming the project and/or the LNGT activity, i.e. all the assets, including the mortgage indicated in paragraph 3.1 of this notification, all the obligations, including the rights and duties regarding the loan specified in paragraph 1 of this notification and all the rights to the LNGT funds, are transferred to the above-mentioned subsidiary; 2.3. the Republic of Lithuania maintains direct control over at least 67 percent of the shares of the Company and the Company maintains 100 percent of the shares of the subsidiary specified in paragraph 2.1 above throughout the entire period of the loan specified in paragraph 1. 3. To establish that the state guarantee can be signed when: 3.1. the Company mortgages/pledges future real property of the LNGT and concurrently related items, i.e. the LNGT link and its technologic commodity, which will be created in the future and/or which will come into the ownership of the Company or the subsidiary specified in paragraph 2.1 above in the future, upon the implementation of the LNGT project, by conditional mortgage (second ranking) to the Ministry of Finance of the Republic of Lithuania for the amount no less than 100 percent of the loan specified in paragraph 1 in order to secure the fulfilment of contractual obligations; 3.2. the Company pays a guarantee fee equal to 0.1 percent of the loan amount specified in paragraph 1. Mantas Bartuška, Director of the Finance and Administration Department, +370 46 391 763 Copyright © 2014 OMX AB (publ).


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Source: OMX


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