February 12 (SeeNews) - Croatian hotel operator Valamar Riviera [ZSE:RIVP] said on Monday it has concluded a 40 million euro ($49 million) club loan deal with OTP banka Hrvatska, the local subsidiary of Hungary's OTP Bank, and OTP Bank Nyrt from Budapest.
The loan will be used to finance the company’s long-term investments, it said in a filing to the Zagreb Stock Exchange.
"The said legal transaction confirms the trust of the investment and financing community in the further development of the company," Valamar added.
The Valamar group runs hotels, apartment villages and campsites in Istria, in Dubrovnik and on the Adriatic islands of Krk and Pag.
($=0.815860 euro)