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Technopolis Ülemiste AS Concludes a 46 Million Euro Loan Agreement with Swedbank

The developer of the Ülemiste City campus Technopolis Ülemiste AS and Swedbank AS have concluded a 46,220,221 euro loan agreement to refinance existing loans.

“This deal is about refinancing our existing loans under very good conditions for us,” said Gert Jostov, the chairman of Technopolis Ülemiste AS. “Refinancing loans is common practice in the real estate business due to the long payback period of projects. And it is best to do it when the creditor provides flexible conditions. This confirms that Swedbank considers Technopolis Ülemiste AS its long-term partner and deems the development activities of Ülemiste City campus worthy of investment.”

“Technopolis Ülemiste AS is the largest business property development project in Estonia and its international scale has added substantial value to the local market,” said Ero Viik, Head of the Property Department of Swedbank AS. “Swedbank wants to support the development of business activities by offering appropriate financing and accounting solutions; we want to be a good partner in the future development of Ülemiste City.”

Additional information:

Gert Jostov, chairman of Technopolis Ülemiste AS

Tel.: + 372 521 2344; e-mail: gert.jostov@technopolis.ee

Ero Viik, Head of the Property Department of Swedbank AS

Tel.: 888 1860; e-mail: ero.viik@swedbank.ee