Debt financing
10 September 2007
Mobile Credit Baltic plc ('MCB' or the 'Company'), the provider of immediate, short-term credit to borrowers in the growing markets of Estonia, Latvia, Lithuania and Finland, has entered into an agreement with Rietumu Banka AS ('Rietumu'), the Riga-based commercial bank, whereby Rietumu provides a €10 million revolving credit facility to MCB.
In line with its growth strategy, MCB will use the funds to finance the continued expansion of its lending activities in the Baltic States and Finland.
Rami Ryhanen, Chief Executive of Mobile Credit Baltic plc, said: "This financing facility, from one of the Baltic region's leading financial institutions, is an important step in our development as we continue to expand our presence in the Baltic states and Finland."
A further update will be provided at the Company's financial results on 21 September 2007.
Enquiries
| Mobile Credit Baltic plc | |
| Rami Ryhänen | +358 50 550 0262 |
| rami@mobilecredit.fi | www.mobilecreditbaltic.com |
| Nominated Adviser: | |
| Libertas Capital | +44 (0) 20 7569 9650 |
| Andrew Raca / Stephen Pickup | |
| Media enquiries: | |
| Capital MS&L | |
| Peter Curtain / James Madsen | +44 (0) 20 7307 5330 |
| james.madsen@capitalmsl.com | www.capitalmsl.com |