Amber Beverage Group extends its overdraft by EUR 22.7 million

Luminor Bank has entered into an agreement with the global alcoholic beverage production and distribution company Amber Beverage Group to extend the existing overdraft. The total amount of the overdraft limit is 22.7 million euros, and it is planned to be used for ensuring the performance of the existing production and daily economic activity, as well as for the achievement of the strategic goals of the Group.

“Amber Beverage Group companies have been our customers for almost a decade, and during this time we have successfully developed our cooperation. One of the financial solutions we provide is overdrafts, which we have now extended to provide customers with funds for daily work and future goals. We are pleased to be able to support such companies operating in Latvia, which, despite the impact of Covid-19, have been able to continue both production and development, adapting to the new conditions,“ says Ilze Zoltnere, Head of Luminor’s Corporate Department.

“We are grateful to the entire Luminor Bank team and its experts for their long-term and productive cooperation. No matter how big or small the company is, we need experienced and knowledgeable strategic partners who are ready to understand the customer’s needs and scope,” comments Amber Beverage Group's CFO and COO JekaterinaStuģe. “Although the current situation in the world raises several questions, what will happen in a week or a month, we are convinced that we can continue to implement productive and development-oriented activities,” Jekaterina Stuģe points out.

Amber Beverage Group is a holding company that has grown from its original core production business established in 1900, to become the global company that unites over 2,000 employees in almost 20 companies across four continents. Amber Beverage Group operates internationally from its head office in Luxembourg and through its production and distribution companies in Russia, Mexico, UK, Australia, Austria, and the Baltics. It is a leading producer, distributor, logistic provider and retailer of alcoholic beverages.