Bišumuišas nami SIA, a 40% joint venture of Arco Group, refinanced in Nordea bank BM-2 project land acquisition loan in value of 14.0 mln euros (219.0 mln kroons). In Arco's consolidated accounts the value of the loan is 5.6 mln euros (87.6 mln kroons). Base rate is 1-m EURIBOR plus margin of 1.5%. New repayment day of the debt is 05.01.2011 and debt is served as bullet payment at the end of the term. Other sponsors of Bišumuižas nami SIA are SIA Linstow Baltic (50%) and Mr. Viktors Savins (10%). Arco Vara is one of the leading real estate developer in the Baltic's, undergoing a SEE expansion with presence established already in Ukraine, Bulgaria and Romania. Core business is real estate development supported by brokerage network and construction arm. The company has offices in 20 cities and employs ca 500 people. According to 2007 audited consolidated results net sales was 727 mln kroons (46 mln euros), net profit before minorities 235 mln kroons (15 mln euros) and assets 3 564 mln kroons (228 mln euros). Arco Vara is listed on Tallinn Stock Exchange. 1 EUR=15,6466 EEK Heigo Metsoja CFO / Member of the Management Board +372 6144 654 heigo.metsoja@arcovara.ee http://www.arcorealestate.com