EUR 65 million financing project of Klaipėdos Smeltė is implemented rapidly

03.01.2013 EUR 65 million financing project of Klaipėdos Smeltė is implemented rapidly

Law firm TGS Baltic successfully completed the first stage of an integrated financing transaction of EUR 65 million (LTL 224 million) in value.

This will allow developing in Klaipėda one of the major infrastructure projects in Lithuania.

Stevedoring company Klaipėdos Smeltė controlled by Terminal Investment Limited, an international shipping company, has signed a EUR 32.5 million (approximately LTL 112 million) loan agreement with SEB Bank, a major Lithuanian commercial bank. The remaining part of the loan amounting to EUR 32.5 million (LTL 112 million) has been extended to the company by the European Bank for Reconstruction and Development (ERPB). Klaipėdos Smeltė is to implement the project of EUR 65 million (LTL 224 million) in value in the Port of Klaipėda, where it is intended to incorporate an international container distribution centre.

Law firm TGS Baltic, as a key project legal adviser, coordinates the development of the project in the three jurisdictions: Lithuania, Netherlands and United Kingdom.