This announcement contains inside information for the purposes of Article 7 of EU Regulation 596/2014.
28 October 2021
Arricano Real Estate Plc
(together with its subsidiaries "Arricano")
Refinancing of Loan Facility
Arricano (AIM:ARO), a leading retail real estate developer and operator in Ukraine, is pleased to announce that, today, JSC Livoberezhzhiainvest, a subsidiary of Arricano, entered into a loan agreement with JSC Alfa-Bank for a 5 year term loan in an amount of US$18 million.
The proceeds of the loan, the commercial terms of which are broadly in line with those of the Arricano's existing loans, will be utilised mainly to repay US$11.2 million of an existing loan with Taskombank JSC and JSC "Universal Bank" as well as to finance construction of Arricano's new shopping mall Lukianivka, which is located in Kyiv.
Commenting on the loan, Ganna Chubotina, CEO, said:
"The management of Arricano is very pleased to have secured further financing for this very promising development in the Shevchenkivs'kyi district of Kyiv. We are pleased to be partnering with Alfa-Bank which is one of the leading financial institutions in Ukraine."
Enquiries:
Arricano Real Estate plc Tel: +357 25 582 535
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