Luminor bank extends the overdraft of 22.7 million euro for Amber Beverage Group

26.08.2020

Luminor bank has concluded an agreement with Amber Beverage Group, a global group producing and distributing alcoholic beverages. The total overdraft limit amount is 22.7 million euro, and it is expected to be used for current production and daily economic activities, as well as the achievement of strategic goals of the company.

The deal for the extension of the deadline of the existing overdraft agreements for the total overdraft limit amount of EUR 22.7 million was concluded between AS Luminor bank and the companies being part of the Amber Beverage Group: Amber Beverage Group Holding S.à r.l., Luxembourg, SIA “Amber Distribution Latvia”, AS, “Latvijas balzams”, AS “Interbaltija AG”, SIA “Amber Beverage Group”, Latvia, and Bennet Distributors UAB, Lithuania.

“Companies of the Amber Beverage Group have been our customers for over ten years, and during this time we have successfully developed our cooperation. One of the financial solutions we provide is an overdraft, which we have currently extended to provide the customer with funds for daily work and achievement of future goals. We are glad that we can support such companies operating is Latvia, which have been able to continue production, development despite the effects of COVID‑19 and have adapted to the new conditions”, Ilze Zoltnere, the Head of the Corporate Department of Luminor, tells.

“We are thankful to the entire team and experts of Luminor bank for many years of fruitful cooperation. Regardless of the size of the company, we need experienced and knowledgeable strategic partners, who are ready to delve into the matter and understand customer’s needs and area of operations”, Jekaterina Stuģe, Financial Director of Amber Beverage Group, comments. “Although the current global situation raises a number of questions like what our everyday life will be in a week or month, we are convinced that we can continue to pursue productive and development-oriented activities”, Jekaterina Stuģe comments.

About Amber Beverage Group: Amber Beverage Group (ABG) is an international group producing and distributing alcoholic beverages. It operates on a global scale from its headquarters in Luxembourg, and through its production and distribution companies in Russia, Mexico, the UK, Australia, Austria, and Baltic Countries – its historical home. ABG employs over 2000 employees, who ensure production, filling, trade, distribution, export, and retail functions. The brand portfolio of the group includes over 200 ABG brands, which it is actively distributing in over 185 markets across the globe.

About Luminor: Luminor is the third-largest provider of financial services in the Baltics, with some 900 000 clients, 2500 employees, and a market share of 15.6% in deposits and 17.6% in lending as at the end of June 2020. Luminor has total shareholders’ equity of 1.6 billion EUR and it is capitalised with a CET1 ratio of 22.0%.

More information: Inese Kronberga