On December 29, 2025, AS Eco Baltia and its subsidiary SIA Eco Baltia vide signed a syndicated financing agreement with Luminor Bank and SEB banka, securing long-term financing of up to EUR 132 million, of which EUR 30 million is available under a separate agreement. The financing will be used to refinance existing liabilities and provide additional financial capacity.
Under the syndicated financing agreement, the Group companies have secured refinancing of their existing financial obligations and long-term financing in the amount of EUR 102 million, as well as the possibility of additional financing of up to EUR 30 million, available under certain conditions. This structure will allow the Group to plan its cash flows flexibly and adjust the amount of available financing according to its actual needs.
Māris Simanovičs, Chairman of the Management Board of Eco Baltia: “The syndicated loan agreement strengthens the Group’s financial stability and provides a solid foundation for our future growth. Cooperation with Luminor Bank and SEB banka allows us to refinance our existing liabilities and secure resources for future development at the same time.”
The syndicated financing with Luminor Bank and SEB banka is a targeted step in optimizing the Group’s capital structure. It combines the refinancing of existing liabilities with access to long-term financing, providing the Group with flexibility and greater predictability in future periods. The financing agreement supports Eco Baltia's development plans and strengthens the Group's competitiveness in the Baltic region.
“Eco Baltia is our long-standing client, demonstrating a strong and sustainable business model with stable financial performance and a strong position in the Baltic market. We are delighted to be part of this cooperation, which marks a new phase in our partnership, promoting further growth and the development of the circular economy in the Baltic region," says Ilze Zoltnere, Head of the Corporate Department at Luminor Bank.
“We are delighted to have the opportunity to start cooperation with Eco Baltia, the leading Baltic environmental resource management and recycling group. The group's companies are an excellent example of how investing in effective, sustainable solutions tailored to society’s needs can drive growth and development. Such companies are an essential part of the Latvian and Baltic economies, and our goal is to provide them with long-term support. The Eco Baltia group has significant potential to continue its successful growth story with SEB banka as a reliable financial partner. With the secured financing, we are refinancing existing liabilities and supporting investments in the company's future development in the coming years," says Ints Krasts, Member of the Board of SEB banka.
About Eco Baltia
Eco Baltia is the largest environmental resource management and recycling group in the Baltics, ensuring a full waste management cycle - from waste collection and sorting to secondary raw material logistics, wholesale, and the recycling of secondary materials, including PET and PE/PP plastics, as well as PET fiber production.
The Eco Baltia group ended 2024 with its largest ever audited consolidated turnover of EUR 261.54 million, an increase of 20% compared to 2023.
The group's companies in Latvia, Lithuania, Poland and the Czech Republic have more than 2,600 employees. The largest of the companies the group owns are Eco Baltia vide, Latvijas Zaļais punkts, Nordic Plast, Oil Recovery, and ITERUM in Latvia, Metal-Plast in Poland, TESIL Fibres in the Czech Republic, and Ecoservice in Lithuania.
The shareholders of Eco Baltia are the INVL Baltic Sea Growth Fund (52.81% through UAB BSGF Salvus), the European Bank for Reconstruction and Development (30.51%) and Māris Simanovičs (15.93% through SIA Enrial Holdings and 0.75% through Penvi Investment Ltd).
About SEB Group
SEB Group is the leading corporate bank in Northern Europe, with international representation in more than 20 countries worldwide. In the Baltic States and Sweden, SEB offers financial advice and a wide range of financial services. SEB aims to build a better future through responsible advice and financing – for today and future generations. As of 30 September 2025, the total assets of SEB Group amount to SEK 4,033 billion, and assets under management total SEK 2,820 billion. SEB Group employs approximately 19,000 people. Learn more about SEB Group: http://www.sebgroup.com.
About Luminor
Luminor is the leading independent bank in the Baltics and the third-largest provider of financial services in our region. Luminor serve the financial needs of individuals, families, and companies. Just like our home markets of Estonia, Latvia, and Lithuania it is young, dynamic, and forward looking.