A/S Trigon Agri: new financing received from JSC Rietumu Bank in Q4 2013
Trigon Agri A/S announces that new bank loan financing was received in Q4 2013 from JSC Rietumu Bank (Latvia) in the amount of EUR 12 million. The bank financing was received by the Cereals production segment in Russia and was related to the final payment for the Rostov transaction in Q4 2013 and working capital financing. The bank loan has maturity date in 2016.
‘Establishing a working relationship with Rietumu Bank in Latvia is an important new development for us as this is the first time in the history of the operations of our group when we have received financing for our operations in Russia from an EU based banking institution. We have been very impressed by the professionalism of the team in Rietumu and their understanding of the Russian business environment and look forward to developing this relationship further in the future.’ commented Ülo Adamson, President and CEO of Trigon Agri A/S.
“We had an opportunity to learn Trigon Agri business-practice and strategy and highly appreciate success of the company. We are confident that financial resources provided will further expand its scale of operations in a perspective Russian market, where Rietumu already works for more than two decades. Agriculture is one of the most stable areas of the volatile global economy, and professional companies have broad opportunities for development in this segment. From our side we plan to further expand lending activities to companies that implement business projects in Russia and other countries in the sphere of agriculture”, – says Head of International lending department of Rietumu Bank Dmitry Pavlov.
Mr. Ülo Adamson, President and CEO of Trigon Agri A/S, Tel: +372 66 79200, E-mail: email@example.com
About Trigon Agri
Trigon Agri is a leading integrated soft commodities production, storage and trading company with operations in Ukraine, Russia and Estonia. Trigon Agri’s shares are traded on the main market of NASDAQ OMX Stockholm. Trigon Agri is managed under a management agreement by Trigon Capital, a leading Central and Eastern European operational management firm with around USD 1 billion of assets under management.
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About Rietumu Bank
Rietumu Bank is the leading privately-owned bank in Latvia specializing in corporate banking and wealth management. The main customers of the bank are companies actively involved in international labour and trade, with the business areas of interest being the Baltic countries and the CIS, including Russia, Belarus, Ukraine, Kazakhstan, as well as ‘old Europe’, Asia and other global regions.
Alongside a full range of classical banking services, Rietumu Bank offers support to its clients in the attraction of investments into business projects, full support for obtaining a Latvian residence permit and services in e-commerce.
At the end of 2013, for the third time, the bank received the prestigious Russia Wealth Management Award of SPEAR’S magazine in the nomination “Best Private Bank in the CIS and Baltic States Providing Private Banking Services and Wealth Management for Russian Clients”.