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Vilnius TV Tower no longer pledged to banks

Vilniaus televizijos bokštas
15min.lt/Irmanto Gelūno nuotr. / Vilnius TV Tower
Šaltinis: BNS

The Vilnius TV Tower was removed from a register of pledged assets last week, more than four years after having been put up as collateral to banks for loans, the Transport Ministry said on Tuesday.

"The Vilnius TV Tower is a strategically important asset. The former government caused controversy by approving such a deal," Transport Minister Eligijus Masiulis said in a press release.

In September 2008, the TV tower, which is operated by the Lithuanian Radio and Television Center, was pledged as collateral for a loan worth less than 100 million litas (EUR 29m) from a consortium of SEB Bankas and DnB Nord. The funds were used for the deployment of digital terrestrial television signal and data networks.

The 326-meter structure is the tallest building in Lithuania and the 28th tallest TV tower in the world.

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