Novaturas Group Enhances Financial Stability with New Loan
Novaturas Group Secures New Loan for Financial Strength
Tour operator Novaturas Group has made headlines with its recent financial maneuver, expanding its loan agreement with its strategic investor from Turkey, Neset Kockar. The company has successfully negotiated an additional EUR 1 million loan while extending the maturity of the existing short-term EUR 1 million loan. This strategic capital reinforcement is set to bolster Novaturas' financial position and support its operational objectives.
Details of the Loan Agreement
Originally in March, Novaturas embarked on a financial partnership with Mr. Kockar, formalizing a short-term loan agreement worth up to EUR 1 million, scheduled for repayment by June 30, 2025, at an annual interest rate of 8.5%. However, with the newly revised terms, the loan's maturity has been extended to June 30, 2026. The additional EUR 1 million loan will also be under identical conditions, including the same maturity date and interest rate. This development underscores the deepening collaboration between Novaturas and its backer, enhancing both parties' growth potential.
Impacts on Operational Goals
This financial decision highlights Novaturas Group's dedication to strengthening its position in the competitive travel market. With this additional liquidity, the company will be able to efficiently allocate resources towards enhancing customer experiences, expanding travel packages, and exploring new travel destinations. The partnership with their Turkish investor not only showcases the financial trust established but also signals a shared vision for growth in the tourism sector.
About Novaturas Group
Founded over 25 years ago, Novaturas Group has established itself as a leading tour operator offering a wide range of travel experiences from the Baltic States. The company specializes in summer and winter recreational trips, sightseeing tours, exotic getaways, skiing holidays, workation experiences, and group travels to numerous locations worldwide. With a reported revenue of EUR 201 million and serving approximately 239,000 passengers in the Baltic region for the year 2024, Novaturas is committed to providing quality service and enriching travel experiences.
Contact Information
For further information, please reach out to Darius Undz?nas, CFO, at +370 678 05749.
Frequently Asked Questions
What is Novaturas Group's recent loan agreement about?
Novaturas Group secured an additional EUR 1 million loan and extended its existing loan agreement to enhance its financial stability and operational goals.
Who is Novaturas Group's strategic investor?
The strategic investor is Neset Kockar from Turkey, involved in financing Novaturas Group.
What are the terms of the new loan agreement?
The new loan has an interest rate of 8.5% and a maturity date extended to June 30, 2026.
How long has Novaturas Group been operating?
Novaturas Group has been operating for over 25 years, providing various travel experiences.
What destinations does Novaturas cover?
Novaturas offers a wide range of travel destinations, including recreational, sightseeing, and specialized group trips worldwide.
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