In February 2021, "Novaturas" agreed with the State Investment Management Agency on EUR 10 million investment in company bonds for a period of six years. "We were one of the first companies to have agreed on this kind of investment and became a positive example that set the market in motion. The forecasts the State Investment Management Agency has made regarding the recovery of the tourism sector and faith in “Novaturas” business model during difficult times for the tourism sector have proved to be right. We monitor the recovery of the tourism market every month and it reflects in our results. Successful first quarter of 2021, even stronger second quarter and growing numbers of trips planned in advance give optimism. Proven and timely made decisions allow us to redeem part of the issued convertible bonds before the agreed terms. The attracted investments have given us stability during unsettling times and allowed us to focus on generating revenues and rapid recovery of operations. While observing the market, we see positive trends and at the same time we are ready to flexibly adapt to market driven changes if any occur”, says Audronė Keinytė, head of “Novaturas” group.
According to the company, the EU digital COVID certificate, the unified country grouping system, and the vaccination processes all over the world make a significant contribution to more free traveling. "Although holiday destinations due to the dynamics of the virus migrate from one category to another on the list of affected countries, it does not affect travelers who have been vaccinated or have recovered from the virus. The number of vaccinated people in the world is gradually increasing, even though a bit slower than planned. Vaccinated people continue to travel safely and comfortably, they are making plans for their future trips”, says A. Keinytė.
The company have allocated the first part of the investment received for ordinary bonds to its strategic priorities - development of relations with partners abroad, strengthening company's positions in the holiday destinations and improvement of the e-commerce system. The company reminds that financing is provided for a period of 6 years, after which “Novaturas” group undertakes to redeem the bonds. The company has also the possibility to redeem the bonds in full or in part before the term of agreement.