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Arricano Real Estate Plc (ARO)
Arricano Real Estate Plc: New Loan Facility
21-Feb-2019 / 11:00 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.
Arricano Real Estate Plc
("Arricano" or the "Group")
New Loan Facility
The Board of Arricano (AIM: ARO) is delighted to announce that Arricano's
wholly owned subsidiary Prisma Alfa LLC yesterday entered into a new UAH140
million (cUSD5.15 million) loan facility with Raiffeisen Bank Aval JSC
("Raiffeisen").
The facility, which expires on 31 December 2023 and incurs interest at
20.55% per annum, in addition to an initial set up fee of 0.5%, will be used
to finance in part the construction of the Lukynavika shopping and
entertainment centre in the Shevchenkivski district of Kyiv.
The facility is secured, ahead of the first drawdown, by a mortgage over the
Group's City Mall Shopping and Entertainment Centre ("City Mall"), and will
be secured by a pledge of property rights arising out of the lease
agreements entered into with lessees of City Mall and a guarantee to be
granted by Arricano.
The Lukynavika shopping and entertainment centre is intended to consist of a
shopping and leisure centre including, inter alia, a hypermarket, shops and
shopping galleries, a leisure and entertainment area, a food court,
restaurants and a service area.
Mykhailo Merkulov, CEO of Arricano, said: "The Board of Arricano is
delighted to be working in partnership with Raiffeisen on this highly
prestigious development in Kyiv."
For further information, please contact:
Arricano Real Estate plc Tel: +38 044 594 9471
Mykhailo Merkulov
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/Toby Andrews
ISIN: CY0102941610
Category Code: MSCL
TIDM: ARO
LEI Code: 213800F8AMPULEKXFX22
Sequence No.: 7579
EQS News ID: 779661
End of Announcement EQS News Service
(END) Dow Jones Newswires
February 21, 2019 06:01 ET (11:01 GMT)
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