KALEV

ANNOUNCEMENT

 

REFINANCING OF SYNDICATE LOAN

 

On 28.03.2000 AS Kalev and AS Eesti Ühispank made an investment 

loan agreement for EEK 60 million to refinance the loan issued to 

AS Kalev by international syndicate of banks in year 1998. Loan is 

guaranteed by second mortgage and commercial pawn. Pursuant to the 

agreement concluded today, AS Kalev will repay the long-term loan 

to AS Eesti Ühispank within five years.

 

AS Kalev made a syndicate loan agreement in 1998 for period of 

three years in the amount of EEK 130 million, at balance of EEK 

80.8 million. Pursuant to the agreement, AS Kalev is obligated to 

repay the loan balance to international syndicate as at 31.03.2000.

 

AS Kalev and AS Eesti Ühispank made an additional agreement to 

reduce AS Kalev credit line limit by EEK 20 million, thus setting 

the credit limit at EEK 10 million.

 

 

Annika Rinde

Executive Assistant

+372 628 3710