JSC Olainfarm Informs About Registration Of New Collateral
To finance its daily activities and investments Olainfarm Group in the past attracted loan facilities from SEB and ABLV banks. Such information is disclosed in financial statements. This year existing credit agreements were prolonged and simultaneously, according to the credit agreement, JSC Olainfarm provided additional collateral in favor of SEB bank, pledging Silvanols and Latvijas aptieka shares, being subsidiaries of Olainfarm; and in favor of ABLV bank - JSC Olainfarm’s debtors and inventory, as well as Tonus Elast shares.
In order to ensure the performance of liabilities of JSC Olainfarm in favor of ABLV bank, subsidiary of JSC Olainfarm Tonus Elast pledged its real estate and all assets as a pool of things.
At the moment the registration process of the above-mentioned collateral is ongoing and is to be completed soon.
JSC Olainfarm is one of the biggest pharmaceutical companies in Latvia with more than 45 years of experience in production of medication and chemical and pharmaceutical products. A basic principle of company's operations is to produce reliable and effective top -quality products for Latvia and the rest of the world. Products made by the Group are being exported to more than 60 countries of the world, including the Baltics, Russia, other CIS, Europe, Asia, North America and Australia.
Information prepared by:
Investor Relations Advisor of JSC Olainfarm
Ph.: +371 29178878