Arco Vara AS issued bonds as targeted issue in the amount of 750 000 euros. The issue date of the bonds was 21 August, 2013 and the maturity date is 21 August, 2016. 750 bonds were issued in the nominal value of 1000 euros with interest rate 14% per year. The issued bonds will be guaranteed with mortgage on property in Sofia that belongs to the subsidiary of Arco Vara AS.
Proceeds of the bond issue will be used for refinancing of the outstanding loan obligations and for proceeding with developments in Bulgaria that are already in progress.
Evelin Kanter
Lawyer
Arco Vara AS
Tel: +372 614 4594
evelin.kanter@arcovara.ee
http://www.arcorealestate.com