Klaipedos Nafta Announced Decision to Enter into Agreement with EIB
OREANDA-NEWS. On 31 May 2013, the Board of Klaipedos Nafta AB (hereinafter, the “Company”) made the decision, inter alia:
1. to enter into a credit agreement with the European Investment Bank (hereinafter, the “EIB”), under the common practice of the EIB, under which:
1.1. the maximum credit amount shall be EUR 87,000,000 (eighty seven million Euro) (300,000,000 (three hundred million) Litas);
1.2. the term of the credit shall be up to 20 (twenty) years;
1.3. interest: variable or fixed, which rate would be provided in the EIB’s disbursement proposal;
1.4. condition precedent to disbursement of the credit by the EIB to the Company – an obligation to submit a State guarantee ensuring the Company’s monetary obligations under the credit agreement;
2. to establish that the Board’s decision referred to in paragraph 1 shall come into force after the Board of the EIB takes the decision on entering into the credit agreement and the general meeting of shareholders of the Company approves the EIB’s decision.