ARO Arricano Real Estate

Arricano Real Estate Plc: Loan Amendments

Arricano Real Estate Plc (ARO)
Arricano Real Estate Plc: Loan Amendments

30-Dec-2019 / 07:00 GMT/BST
Dissemination of a Regulatory Announcement that contains inside information according to REGULATION (EU) No 596/2014 (MAR), transmitted by EQS Group.
The issuer is solely responsible for the content of this announcement.

This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.

 

30 December 2019

 

Arricano Real Estate Plc

(together with its subsidiaries "Arricano")

Amendment to two loan agreements

 

Arricano is pleased to announce that on 26 December 2019 it secured the following reduction in interest rates on two loan agreements:

  • From 13.00% to 11.25% per annum on the USD20.0 million loan agreement with Tascombank JSC and Universal Bank PJSC, the loan is repayable on 30 July 2023 and all other terms remain as announced on 14 June 2019; and
  • From 12.00% to 10.75% per annum on the USD12.0 million loan agreement with Tascombank JSC, the loan is repayable on 27 June 2024 and all other terms remain as announced on 28 June 2019.

 

Ganna Chubotina, CEO of Arricano, commented:

 "We are very pleased to have agreed a material reduction in the cost of these two loan agreements with TASCOMBANK JSC and Universal Bank PJSC, which I believe demonstrates the quality of our long-standing partnership with these leading financial institutions as well as reflecting the increasing strength of Arricano's financial track record and prospects."

 

Enquiries:

Arricano Real Estate plc       Tel: 1

Ganna Chubotina

 

Nominated Adviser and Broker:  Tel: +44 (0)20 7220 1666

WH Ireland Limited

Chris Fielding

 

Financial PR:                  Tel: +44 (0)20 3151 7008

Novella Communications Limited

Tim Robertson/ Fergus Young  

 
ISIN: CY0102941610
Category Code: MSCM
TIDM: ARO
LEI Code: 213800F8AMPULEKXFX22
OAM Categories: 3.1. Additional regulated information required to be disclosed under the laws of a Member State
Sequence No.: 37698
EQS News ID: 944239

 
End of Announcement EQS News Service

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EN
30/12/2019

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