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Danske Banka has expanded its cooperation with the holding company LNK Group by granting a guarantee facility amounting to 15 million Euros to its daughter company LNK Industries. The cooperation between the bank and the concern started a year ago with signing an eight million Euros guarantee facility agreement for five years with its daughter company Latvijas Tilti.
The CEO of Danske Banka Raivis Kakānis says: „I am very glad about the expansion of our cooperation with LNK Group that commenced a year ago. It confirms that the financial solutions and the expertise provided by the bank have met the expectations of our customer. The company has won several tenders on the construction of important infrastructure projects in Latvia and abroad and will use these guarantees for expanding its production and export volumes. Therefore we can certainly say that our cooperation will contribute also to the growth of the Latvian economy."
The Chairman of the Board of LNK Group Artjoms Milovs says: "The Holding Company LNK Group has had a long and successful cooperation with Danske Banka. The key to success in our joint work is the ability of Danske Banka to insure reasonable approach to the financing issue, looking into the particular business needs of a customer. The decision to expand this cooperation within the framework of funding to our daughter company LNK Industries is another progressive step towards further successful cooperation and we are convinced it will continue to develop successfully."
About LNK Industries
LNK Industries is the daughter company of the Holding Company LNK Group specialised in the design of all types of constructions and technological equipment, construction of infrastructure projects (hydro technical, bridges and cross-overs), industrial and civil construction, as well as production of metal and reinforced concrete structures, transportation and technological systems. LNK Industries provides the services of the General Contractor in the implementation of multifunctional complex projects in Latvia and abroad, including the turnkey construction of terminals where the capacities of all the companies of LNK Group are utilised.
About LNK Group
The Holding Company LNK Group was established in 1998. Currently there are 18companies operating in three main directions: engineering, production and construction and development of real estate projects, in LNK Group. The company employs more than a thousand people.
About Danske Banka
Danske Banka is the Danske Bank Group’s unit in Latvia. Danske Bank Group is the largest bank in Denmark and one of the Northern Europe’s leading financial institutions. The Group is widely represented in 15 countries and it serves more than 5 million retail customers and a significant number of institutional organizations. Approximately 21 000 bank’s employees are taking care about the daily needs and comfort of its customers.
Danske Banka aims to become the best local partner for its customers in the financial issues. High quality service and individual approach towards each customer needs characterizes the bank’s operations.
Danske Bank Group has received the following ratings:
Long-term: Baa1 (Moody’s); A- (S&P); A (Fitch);
Short-term: P-2(Moody’s); A-2 (S&P); F1 (Fitch).
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