Refinancing of Loan Facility (709305)

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 Arricano Real Estate Plc (ARO) 
Refinancing of Loan Facility 
 
31-Jul-2018 / 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. 
 
            31 July 2018 
 
      Arricano Real Estate Plc 
 
      ("Arricano" or the "Company") 
 
      Refinancing of Loan Facility 
 
   Arricano (AIM: ARO) announces the refinancing of existing loans from PJSC 
           Bank 'Saint-Petersburg' ("BSPB") with its wholly owned subsidiary 
    Livoberezhzhiainvest PJSC ("LBI"), which operates the RayOn Shopping and 
            Entertainment Center, located in Kyiv, Ukraine. 
 
 On 3 April 2013, LBI entered into two term loan agreements with BSPB for an 
    aggregate amount of USD 25 million. Under the first loan agreement, BSPB 
   provided to LBI a loan of USD 14 million (the "First Loan Agreement") and 
       under the second loan agreement BSPB provided to LBI a loan of USD 11 
 million (the "Second Loan Agreement"), together the "BSPB Loan Agreements". 
As at 31 December 2017, the BSPB Loan Agreements had a carrying value of USD 
            16.1 million at an interest rate of 10.5 per cent. 
 
  On 30 July 2018, LBI entered into a loan agreement with TASCOMBANK JSC, VS 
  Bank PJSC and Universal Bank PJSC (the "TAS Loan Agreement"). The TAS Loan 
     Agreement was secured under a mortgage charge of the RayOn Shopping and 
     Entertainment Center property and a pledge of the issued shares of LBI. 
 
       The main terms of the TAS Loan Agreement, inter alia, are as follows: 
 
  ? Amount: USD 15.2 million; 
 
  ? Term: 60 months; 
 
  ? Interest rate: 11.25 per cent. from month 1 to month 18 increasing to 13 
  per cent. from month 19 to month 60; 
 
  ? Other commercial terms of the TAS Loan Agreement are broadly in line 
  with the Company's existing loans from other banks; and 
 
  ? The proceeds of the TAS Loan Agreement to be deployed by LBI to repay 
  its existing loans from BSPB under the BSPB Loan Agreements. 
 
   Mykhailo Merkulov, CEO of Arricano, said: "The management of Arricano are 
  pleased with the refinancing of the existing BSPB Loans. We are pleased to 
  be partnering with TASCOMBANK JSC as the lead syndicate bank, which is one 
            of the leading financial institutions in Ukraine." 
 
    This is an exciting period for Arricano, helped by an improvement in the 
 Ukrainian economy with GDP in 2018 forecast to increase by 3.5% reversing a 
            negative trend in previous years." 
 
 This announcement is inside information for the purposes of Article 7 of EU 
            Regulation 596/2014. 
 
For further information, please contact: 
 
Arricano Real Estate plc                  Tel: [phone] 
 
Mykhailo Merkulov 
 
Nominated Adviser and Broker              Tel: [phone] 
                                          4000 
 
Smith & Williamson Corporate Finance 
Limited 
 
Azhic Basirov 
 
Financial PR                              Tel: [phone] 
                                          7008 
 
Novella 
 
Tim Robertson/Toby Andrews 
 
ISIN:           CY0102941610 
Category Code:  MSCH 
TIDM:           ARO 
LEI Code:       213800F8AMPULEKXFX22 
OAM Categories: 2.2. Inside information 
Sequence No.:   5814 
EQS News ID:    709305 
 
End of Announcement EQS News Service 
 
 

(END) Dow Jones Newswires

July 31, 2018 02:01 ET (06:01 GMT)