Market announcement
Arco Vara AS
Category
Other price sensitive information
Date
29.12.2008 09:49:59
Title
Pikaajaliste laenude refinantseerimine
Message
Arco Vara Grupp refinantseeris Laeva ja Tivoli projektidega seotud pikaajalisi laene SEB pangas. Tehingu tulemusena peab Arco maksma tagasi 40.0 mln krooni (2.6 mln eurot) põhiosa ning pääseb senisest 150.0 mln krooni (9.6 mln euro) likviidsete vahendite hoidmise kohustusest SEB pangas. Laenu lõpptähtaeg on märts 2010 ja jääk 126.0 mln krooni (8.1 mln eurot). Intressiks on SEB panga Eesti krooni laenude baasintress ja kaalutud keskmine intress on 8,12%. Arco Vara on Baltimaade üks juhtivaid kinnisvaraettevõtteid, mis laieneb Ida-Euroopa turgudel, opereerides juba Ukrainas ja Bulgaarias. Ettevõtte põhitegevuseks on kinnisvaraarendus, mida toetavad enda kinnisvarabürood ja ehitusäri. Firmal on esindused 20 linnas ning grupis töötab 400 inimest. Arco Vara 2007. aasta käive moodustas 727 mln krooni (46 mln eurot), puhaskasum enne vähemusosalusi 235 mln krooni (15 mln eurot) ja bilansimaht 3 564 mln krooni (228 mln eurot). Arco Vara aktsiad on noteeritud Tallinna Börsil. 1 EUR=15,6466 EEK Heigo Metsoja CFO /Juhatuse liige +372 6144 654 heigo.metsoja@arcovara.ee http://www.arcorealestate.com
Title
Refinancing of long-term debt
Message
Arco group refinanced its long-term debt in SEB bank in projects Laeva and Tivoli in Tallinn, Estonia. As a result of the agreement Arco must pay back principal in amount of 40.0 mln kroons (2.6 mln euros) and SEB Bank agrees to release liquidity covenant. According to the covenant Arco had to maintain the level of liquid assets in amount of 150 mln kroons (9.6 mln euros) on SEB accounts. The maturity of the debt is still March 2010 and new outstanding balance will be 126.0 mln kroons (8.1 mln euros). Interest includes SEB's base rate on kroon facilities and the total weighted average rate is 8.12% per annum. Arco Vara is one of the leading real estate developer in the Baltic's, undergoing a SEE expansion with presence established already in Ukraine and Bulgaria. Core business is real estate development supported by brokerage network and construction arm. The company has offices in 20 cities and employs 400 people. According to 2007 results net sales was 727 mln kroons (46 mln euros), net profit before minorities 235 mln kroons (15 mln euros) and assets 3 564 mln kroons (228 mln euros). Arco Vara is listed on Tallinn Stock Exchange. 1 EUR=15,6466 EEK Heigo Metsoja CFO / Member of the Management Board +372 6144 654 heigo.metsoja@arcovara.ee http://www.arcorealestate.com