LJUBLJANA (Slovenia), February 2 (SeeNews) – Slovenia's ‘bad bank’, the Bank Assets Management Company (DUTB), said it has repaid early 168 million euro ($181.4 million) of its syndicated loan granted by Slovenian banks.
After this early repayment, the remaining balance of the syndicated loan is 187 million euro, DUTB said in a statement late on Wednesday.
DUTB noted it had acquired the liquidity necessary to repay its financial liabilities from the 50 million euro recapitalization, provided by the government in late December, and via its asset management operations in December and January, when it successfully finalised several sale transactions.
After the 168 million euro repayment, DUTB's financial liabilities stemming from issued bonds and loans received decreased by 12% and the current remaining balance (excluding accrued interest) amounts to 1,106.4 million euro, DUTB added.
"This constitutes DUTB's partial repayment of the funds invested by the Republic of Slovenia into rehabilitation of the Slovenian banking sector," the 'bad bank' explained.
DUTB was set up in 2013 as a government-owned company with the task of facilitating the restructuring of banks with systemic importance that were facing severe solvency and liquidity problems.
($=0.926287 euro)