FOR THE CONSTRUCTION OF THE TELTONIKA'S HEAD OFFICE - EUR 30 MILLION LOAN FROM SWEDBANK

#corporatenews, #office

May 26, 2022

Swedbank has provided EUR 30 million financing for Power Group Property S14, a company belonging to the Teltonika group of companies, which is currently developing the group's headquarters in Saltoniškių str. 14, Vilnius. The total area of ​​the new A + energy class office building will be almost 18.000 sq. metres.

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"Teltonika's head office will be the focal point from where we will coordinate the activities of regional divisions around the world, so this project is significant for our entire group of companies. By concentrating the management of departments in one place, we will increase the efficiency of operations, and by building a modern office, we want to provide the best working conditions for our employees. The new office and its spaces will ensure a comfortable work environment, so we will be able to communicate even more effectively with colleagues from different Teltonika’s companies. Smooth cooperation with Swedbank is one of the factors that will ensure implementation of this project according to plan,” says Artūras Kazėnas, Chief Financial Officer of Teltonika.

The construction of Teltonika's headquarters is planned to be completed by the end of 2023. It will employ up to 500 employees.

“By developing and producing advanced digital technologies, Teltonika makes a significant contribution to the development of the Lithuanian technology sector, the development of innovative and high value-added products, and the increase of the country's export potential. We appreciate the long-term cooperation with this group of companies so far and hope that the financing we provide will contribute to the company's long-term investment plans and development goals,” says Antanas Sagatauskas, Head of Corporate Banking at Swedbank.

It is not the first loan Swedbank has recently granted to the Teltonika group of companies. To date, the bank has provided EUR 28.5 million short-term limit for the group's company Teltonika EMS, which was extended at the beginning of May this year for further working capital financing.

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