The loan will be used to refinance existing loans from Swedbank and Šiaulių Bankas and for working capital needs, Snaigė, which is controlled by Russia's Polair, said in its 2012 performance report. It did not disclose the possible amount of the loan.
Snaigė last year secured extensions to its loan agreements with Swedbank and Šiaulių Bankas.
Šiaulių Bankas provided the refrigerator manufacturer with an additional credit line worth 5 million litas (EUR 1.45m) and extended the repayment of an 8.3-million-litas loan for another five years, and of a 6.8-million-litas loan, for four years.
Swedbank last year agreed to extend the repayment of a loan provided to Snaigė until March 2013 and increased the amount of the loan by 405,000 euros. The company and the bank in March 2011 signed a loan agreement worth 694,000 euros, according to the company's earlier reports.
Snaigė had 34.5 million litas in outstanding debt at the end of last year, including 21 million litas in long-term loans, 6 million litas in short-term loans and 7.3 million litas in unredeemed bonds.
Russia's Polair indirectly owns 91.1 percent of shares in Snaigė, which is listed on the NASDAQ OMX Vilnius stock exchange.
