December 11 (SeeNews) - Croatian hotel operator Liburnia Riviera Hoteli [ZSE:LRH-R-A] said on Friday it signed an 11.4 million euro ($13.8 million) credit agreement with local lenders Erste&Steiermarkische Bank d.d. and the Croatian Bank for Reconstruction and Development (HBOR).
The funding will go to support Liburnia's working capital and ensure its medium-term liquidity, the company said in a brief statement.
It did not disclose the financial terms of the credit agreement.
According to December 11 bourse data, Zagreb-based Gitone Adriatic owns 71.23% of Liburnia Riviera Hoteli, followed by Nova Liburnija with 25%, while the remainder belongs to smaller shareholders.
Gitone Adriatic is a unit of Austria-based Gitone Beteiligungsverwaltungs, whose parent is Vienna-based Holster Privatstiftung.
Nova Liburnija is owned by the city of Opatija and the municipalities of Lovran, Moscenicka Draga and Matulji.
Liburnia Riviera Hoteli's shares last traded on the Zagreb bourse on December 7, closing down 6.45% at 2,900 kuna ($467/385 kuna).
(1 euro = 7.53797 kuna)