Market announcement
Arco Vara AS
LEI code
097900BHCB0000066171
Size of the entity
Small group
Economic activities
Professional, Scientific and Technical Activities
Country of registered office
Estonia
General information
Categories
Other corporate action
Unique data record identifier
7641
Submission date and time
13.12.2019 10:49:22
Content of announcement in Estonian
Title
Arco Vara refinantseeris olulise laenu Bulgaarias
Message
Arco Vara AS-i tütarfirma Arco Invest EOOD sõlmis laenulepingu Raiffeisenbank'iga Bulgaarias, et refinantseerida 6 mln euro ulatuses laen, mis oli võetud Madrid Blvd projekti jaoks Piraeus pangast ja mille tähtaeg oli saabumas 2019. aasta lõpus. Uus laen on sõlmitud ligi viieks aastaks ning leping näeb ette mõõdukaid kvartaalseid tagasimakseid koos suurema tagasimaksega 2024. aasta oktoobris. Laenu intress odavnes. Arco Vara juhi Tarmo Sild'i kommentaar: ?Madrid Blvd laenu refinantseerimine on olnud üks Arco Vara kontserni strateegilistest eesmärkidest, mis on nüüdseks saavutatud pärast hoone täitmist maksvate rentnikega. Sellega stabiliseerub umbes veerand kontserni bilansist ja umbes pool võlakohustustest viieks aastaks. Samuti muutub võlakohustuse teenindamine odavamaks, mis suurendab alates 2020 ja järgnevatel aastatel aktsionäride kätte jääva raha hulka." Kristel Tumm Finantsjuht Arco Vara AS Tel: +372 614 4662 [email protected]
Content of announcement in English
Title
Arco Vara refinanced an important loan in Bulgaria
Message
Arco Invest EOOD, a subsidiary of Arco Vara AS, has signed a loan agreement with Raiffeisenbank in Bulgaria in the amount of 6 mln euros for refinancing the bank loan received from Piraeus Bank for Madrid Blvd project, which was becoming due at the end of 2019. The term of the new loan is nearly 5 years and the agreement foresees modest quarterly repayments with one larger repayment in October 2024. The interest rate of the loan decreased. Arco Vara's CEO Tarmo Sild comments: "Refinancing the Madrid Blvd loan has been one of the strategic objectives of Arco Vara, which has now been achieved after filling the building with paying tenants. With that milestone, approximately one quarter of the Group's balance sheet and approximately half of the Group's liabilities have been stabilized for the next five years. Servicing the loan will be cheaper as well, which in turn will increase the amount of money remaining in shareholders' hands starting from 2020 and onwards." Kristel Tumm CFO Arco Vara AS Tel: +372 614 4662 [email protected]